Lawmakers Seek More Time for Student Loan Borrowers on SAVE Plan

Student-loan borrowers kicked off Biden's affordable repayment plan need more time to prep for higher bills, lawmakers say

Sen. Jeff Merkley led his colleagues in calling for relief for student-loan borrowers on the SAVE income-driven repayment plan. Chip Somodevilla/Getty Images Student-loan borrowers on the SAVE plan will have 90 days beginning in July to transfer to a new plan. A group of lawmakers urged the Education Department to allow borrowers more time to prepare for repayment. The elimination of SAVE is expected to increase some borrowers' monthly bills by hundreds of dollars. Millions of student-loan ...