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Home » News » COLLEGE DEBT: Gillibrand calls for SAVE plan to be made permanent

COLLEGE DEBT: Gillibrand calls for SAVE plan to be made permanent

Senator Kirsten Gillibrand is taking a stand to ensure President Joe Biden’s income-driven student loan repayment program, known as the SAVE Plan, becomes a permanent fixture. This initiative has already seen enrollment from over 7.7 million federal student loan borrowers, with nearly 300,000 of those being New Yorkers, demonstrating its widespread impact and necessity.

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The SAVE Plan is designed to ease the financial burden on borrowers by adjusting monthly payments according to income, effectively raising the income exemption from 150% to 225% of the poverty line. This adjustment means more manageable payments for those striving to balance their educational expenses with their everyday living costs.

For those interested in taking advantage of the SAVE Plan, applications are open at the federal student aid website. This move by Senator Gillibrand not only seeks to provide immediate relief to millions of Americans but also aims to secure a future where education is more accessible and less financially daunting.