A new repayment program opens today to more than 20 million student loan borrowers, with payments based on their income and family size. The Biden administration announced the Saving on a Valuable ...

In addition, unlike the current income-based repayment programs, ... The department plans to formally propose the new repayment program and seek public comment on the plan in “early July,” Brian ...

The Department of Education implemented the repayment plan last year after the Supreme Court struck down the administration’s sweeping, one-time student loan forgiveness program in 2023.