Biden's SAVE Plan to Fast-Track Student Loan Forgiveness Starting Next Month

Eligible borrowers include those enrolled in SAVE, have made payments for 10 or more years, and originally took out $12,000 or less in student loans.

Biden's SAVE plan is set to provide student loan forgiveness for certain borrowers starting next month.
Eligible borrowers are those who are enrolled in SAVE, have made payments for 10 or more years, and originally took out $12,000 or less in student loans.
Borrowers who borrowed more than $12,000 can still receive student loan forgiveness, with the repayment term increasing for every additional $1,000 borrowed.
Borrowers not currently enrolled in SAVE but believe they're eligible for this relief are advised to sign up for the plan immediately.
The Biden administration's decision to fast-track this relief comes months ahead of its original plan to start in July.