Millions of Americans are paying down their student loans for the first time in years but with more repayment options than before.
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What is the statute of limitations on private student loans?Student Loan Debt by AgeFACT SHEET: President Biden Announces Student Loan Relief for Borrowers Who Need It Most | The White HouseChief among them is President Biden’s new income-driven repayment plan — the Saving on a Valuable Education program, commonly known as Save — which ties monthly payments to earnings and family size. The White House estimates the plan could save the typical borrower $1,000 a year on payments because it reduces the amount of income used to calculate monthly bills. And some people enrolled in the plan are starting to have their balances forgiven.
So how does it work? Here’s information that could help you decide whether Save is right for you.
