Some student loan borrowers have July payment waived: Here's why
2 months ago
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NEW YORK (PIX11) – Millions of student loan borrowers will not have to make debt payments this month.
About 3 million borrowers will have both their July payment and interest charges waived. It comes despite two federal injunctions that were handed down last week against the Biden administration's loan repayment plan, also known as the SAVE Plan.
More than 8 million people are signed up for the SAVE Plan and 4.5 million already qualify for $0 payments due to low earnings.
Borrowers with private student loans are not impacted, so be sure to double-check your account to see if your payment was suspended for July.
Erin Pflaumer is a digital content producer from Long Island who has covered both local and national news since 2018. She joined PIX11 in 2023. See more of her work here.
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