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Millions of student loan borrowers to see their interest payments resume
The Education Department said on Wednesday it would resume applying interest on Aug. 1 to federal student loans of nearly eight million borrowers who enrolled in the SAVE plan.
Millions of student loan borrowers to have interest restart on their accounts
Millions of student loan borrowers who enrolled in SAVE plans will soon have interest start collecting on their accounts.
Student Loan Update: Here's What SAVE Borrowers Should Do by August 1
Borrowers enrolled in the Saving on a Valuable Education plan just had another curveball thrown at them. Federal student loans for those who are enrolled in the Saving on a Valuable Education plan have been in an interest-free forbearance for a year while the income-driven repayment plan was challenged in court.
Maddow Blog | Student loan borrowers have several new reasons to object to the Republican agenda
Joe Biden made student loan debt relief a top domestic priority. Under Donald Trump, the pendulum has swung wildly in the opposite direction.
Interest on SAVE plan student loans will resume Aug. 1: What borrowers need to know
Education Secretary Linda McMahon, in a statement, urged "all borrowers in the SAVE Plan to quickly transition" to a different loan program.
Student Loan Interest to Resume Accruing for 8 Million Borrowers. Should You Switch Plans?
The department urges all borrowers in the SAVE plan to quickly transition to a legally compliant repayment plan,” Secretary of Education Linda McMahon said in a news release.
Student loans in SAVE Plan to begin accruing interest in August
The Education Department said it will soon begin reaching out directly to the nearly 7.7 million borrowers currently enrolled in the SAVE Plan, with instruction on how to begin making payments again.
Trump's Education Dept. to resume interest on SAVE plan loans starting in August
The Department of Education's announcement gives borrowers just weeks to consider their options before interest begins accumulating on their loans.
Interest will restart for 8 million student loan borrowers after year-long pause
The Department of Education announced Wednesday it will restart interest for nearly 8 million student loan borrowers on the SAVE plan starting August 1. That leaves borrowers with just three weeks to weigh their options and switch to a new plan.
7. 7 million SAVE borrowers will see their interest rates increase in August
Interest charges will resume for 7.7 million SAVE plan borrowers in August, ending a yearlong pause and raising monthly costs for many.
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