Biden Administration Pauses Collection on Some Student Loans

With federal judges having halted key parts of the Biden administration’s new student loan repayment plan, the Education Department said Friday that it will suspend payments and interest charges for about 3 million borrowers. The decision affects enrollees in the Saving on a Valuable Education plan, commonly known as Save, which ties monthly payments to earnings and family size. More than 8 million people are signed up for the plan, with 4.5 million of them qualifying for monthly payments of $0 because of their low earnings.