"Biden Administration to Reboot Student Loan Repayment Plans: Millions Affected In a move that's set to impact millions of student loan borrowers, the Biden administration is sending out notices to over 7 million individuals who have been enrolled in a specific repayment plan since 2021. The plan, which was introduced as part of the administration's efforts to alleviate the financial burden of student loan debt, has been deemed unsustainable by the government. As a result, borrowers will be required to seek out a new repayment plan, which could have significant implications for their monthly payments. The change is expected to affect a large number of borrowers, and it remains to be seen how the new plans will be structured and how they will impact individual borrowers' financial situations."
More than 7 million student loan borrowers who've been enrolled in a Biden-era repayment plan will receive notices with instructions to seek a new plan to repay their debt ...