mark francis
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Eliminating waste, fraud, and abuse in college loans the government is now to enforce loan repayment requirements in accordance with US laws and court orders.
www.ntd.com
ByNTD Newsroom
|
Published: 7/11/2025, 9:48:31 AM EDT
The U.S. Department of Education has announced that it will restart interest accruals on student loans in the Saving on a Valuable Education (SAVE) plan, starting from August 1, according to a July 9 Education Department statement.
The move complies with an injunction that blocked parts of the Biden-era student debt plan earlier this year.
The SAVE Plan was launched in 2023 but was ruled unlawful by a federal appeals court earlier this year.
The department says borrowers won't be charged retroactive interest and will be contacted with options to move to legal repayment plans.
Education Department to Resume Interest Accruals on Student Loans
It said it would reach out to more than 7 million people with student debt.
Education Department to Resume Interest Accruals on Student Loans
It said it would reach out to more than 7 million people with student debt.ByNTD Newsroom
|
Published: 7/11/2025, 9:48:31 AM EDT
The U.S. Department of Education has announced that it will restart interest accruals on student loans in the Saving on a Valuable Education (SAVE) plan, starting from August 1, according to a July 9 Education Department statement.
The move complies with an injunction that blocked parts of the Biden-era student debt plan earlier this year.
The SAVE Plan was launched in 2023 but was ruled unlawful by a federal appeals court earlier this year.
The department says borrowers won't be charged retroactive interest and will be contacted with options to move to legal repayment plans.
