President Biden is promoting his administration’s new income-driven repayment SAVE program just as millions of Americans are scheduled to restart federal loan repayments.
But some lawmakers in Congress argue the program, which caps interest accrual and lowers the monthly payment amount for many borrowers, is another loan forgiveness program subsidized by taxpayers. They point out the Supreme Court already struck down the administration’s forgiveness plan.
POLITICO wants to cut through the political debate to understand how the program is impacting borrowers and how much it’s lowering federal loan payments.
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