"I've never been behind on a credit card payment. I've never missed a student loan payment. But now it's come to the point where life just isn't feasible like that,"
"the lesser of all the evils out there."
"if you take out a loan, you must pay it back."
"American taxpayers can now rest assured they will no longer be forced to serve as collateral for illegal and irresponsible student loan policies,"
President Trump announced a proposed settlement to terminate the SAVE income-driven repayment plan. The SAVE plan provided borrowers with lower monthly payments and a shorter timeline to debt relief. After a GOP-led lawsuit, more than 7 million enrolled borrowers were placed on forbearance in summer 2024. The Department of Education restarted interest charges on SAVE accounts in August. If a court approves the settlement, enrolled borrowers will have a limited period to switch repayment plans and will likely face much higher monthly payments. Some borrowers, citing high living costs, say higher payments are not feasible and are pursuing bankruptcy.
Read at Business Insider
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