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Eight million borrowers who are enrolled in the plan, known as SAVE, are left in limbo after a series of rulings tied to two lawsuits brought by Republican-led states. A [...]

Federal appellate judges ruled that the Biden administration’s new student loan repayment plan could continue to operate as legal challenges to the program work their way through the courts. Major [...]

The income-driven plan known as SAVE has reduced payments for millions of borrowers. Lawsuits by Republican-led states are seeking to upend it. When President Biden announced his https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/24/fact-sheet-president-biden-announces-student-loan-relief-for-borrowers-who-need-it-most/ to provide [...]

The article focuses on the Biden administration's pause on student loan payments for eight million borrowers enrolled in the new SAVE repayment plan following a federal court's temporary block, necessitating borrowers' placement in interest-free forbearance while legal challenges are ongoing.

The article focuses on U.S. President, Joe Biden administration's response to legal challenges affecting the SAVE student loan repayment program, including the temporary suspension of monthly payments for millions of borrowers and efforts to recalibrate payment calculations.

The article explains the potential consequences if one falls behind on student loan payments. It discusses the impact of skipping payments on credit scores. Categories used by credit reporting companies to generate credit scores include payment history, amounts that borrowers pay down on installment loans, and accrued interest on missed payments. Guidance is also offered to borrowers for finding credit reports and scores.

The article reports on the miscalculations of student loan payments made by the Missouri Higher Education Loan Authority that affected about 420,000 student loan borrowers who are being transferred into the SAVE income-driven repayment plan of the administration of U.S. President Joe Biden.

The article focuses on the resumption of student loan payments and provides information about the Biden administration's measures to ease the transition, including a yearlong "on-ramp" for missed payments, the introduction of the more affordable income-driven repayment plan called SAVE.

The article discusses the Internal Revenue Service's (IRS) announcement that taxpayers who received one time, state issued payments to ease the impact of higher inflation would not need to report them as income on their federal income tax returns.