Biden Administration Launches New SAVE Student Loan Repayment Plan. Here’s How to Apply

The Biden administration has launched a beta application for its new repayment plan for federal student loan borrowers. The Saving on a Valuable Education, or SAVE plan, is an income-driven repayment plan that may cut many borrowers’ previous monthly payments in half, and will leave some people with no monthly bill.
The U.S. Department of Education says borrowers can begin enrolling now in what it calls, “the most affordable repayment plan yet.”