The Department of Education is once again shaking things up for student loan borrowers by reopening enrollment for two programs suspended last year to favor President Biden's program tied up in court.
Two student loan repayment plans have been reopened for enrollment by the Department of Education following a federal court injunction against the Biden administration's Saving on a Valuable Education program. New enrollment in the Pay As You Earn and Income-Contingent Repayment plans programs was halted last summer in an attempt to phase them out and encourage borrowers to sign up for the Biden-Harris administration’s SAVE plan, but now people can sign up once again.
Many public servants use them to keep their monthly payments low as they work to earn PSLF after 10 years," a DOE press release said. While SAVE is tied up in court, borrowers do not owe payments on their loans and the loans are not accruing interest, but they are also not getting credit towards PSLF or making "progress toward satisfying IDR plans.
and ICR new enrollments will be open until July 1, 2027, the DOE says. CLICK HERE TO READ MORE ON FOX BUSINESS More information for borrowers can be found on the DOE website.
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