Biden's SAVE Plan: How It Impacts Student Loan Borrowers and Taxpayers —
Biden’s new student loan repayment plan — known as SAVE — could lower the debts of millions of students. Until now, the Biden Administration has canceled over $116 billion in student loan debt for 3.4 million Americans.
Opponents of the plan claim that the plan could cost taxpayers up to $559 billion, as well as encourage colleges to raise the cost of tuition and increase excessive borrowing. This is mostly true.
The plan follows the Supreme Court’s June 30th decision to strike down President