What’s Next for Student Loan Borrowers?

Student loan debt is a crisis in America. Although the Supreme Court overturned President Biden’s initial plan to deliver $10,000 in relief to all student loan borrowers and up to $20,000 for Pell Grant recipients, the Biden-Harris administration continues to fight for student loan borrowers. More recent actions to alleviate the burden of student debt include: the introduction of the Saving on a Valuable Education (SAVE) plan—the most affordable repayment plan to date—which lowers monthly payments and eliminates unpaid monthly interest; an on-ramp to repayment that protects borrowers from negative impacts on their credit; and a new regulatory pathway to deliver cancellation to borrowers who need it.