Biden-Harris Administration Launches Most Affordable Repayment Plan Ever, Transforming Income-Driven Repayment by Cutting Undergraduate Payments in Half and Preventing Unpaid Interest Accumulation

The Biden-Harris Administration today announced that it has fully launched its updated income-driven repayment application tool on StudentAid.gov and that student loan borrowers can now officially enroll in the Saving on A Valuable Education (SAVE) plan, the most affordable repayment plan ever created. The plan is part of President Biden and Vice President Harris’ broader efforts to make college more affordable and support students and borrowers.