Biden's Education Department just proposed a new way to make monthly student-loan payments 'more affordable and manageable than ever before'
Student-loan borrowers concerned about resuming payments just got additional details on how President Joe Biden proposes to help them out.
over the past year have found, borrowers have struggled to actually get relief through IDR plans due to paperwork errors and issues tracking payments. its intention to create a reformed IDR plan that would fix the problems of the past and help borrowers achieve relief — and on Tuesday, the department officially proposed those new regulations detailing how the plan would work.
Rather than creating an entirely new plan, as a fact sheet said, the department will amend the Revised Pay Help more low-income borrowers by increasing the amount of income protected from repayment to 225% of the federal poverty level
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