Jun 20, 06:25 PM

Biden Administration to Reduce and Pause Student Loan Payments for Millions Starting in July

Millions of student loan borrowers will see their monthly payments reduced starting in July. This change is part of the Biden administration's modifications to the federal student loan system. Payments on loans borrowed for undergraduate school will be reduced from 10% to 5% of discretionary income through the 'SAVE' plan. Additionally, student loan payments for nearly a million borrowers will be paused in July. Biden is also poised to slash bills.

#Biden

Written with ChatGPT (GPT-4o).