What They Are Reading in the States: More than 4 Million Student Loan Borrowers Enrolled in New Biden-Harris Administration SAVE Plan | The White House
What They Are Reading in the States: More than 4 Million Student ... The White House
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Local News Outlets Highlight Enrollment in Biden-Harris Administration’s SAVE Plan
Across the country, local news outlets are highlighting the number of student loan borrowers in each state who have enrolled in the Biden-Harris Administration’s new Saving on a Valuable Education (SAVE) income-driven repayment (IDR) plan.
Biden-Harris Administration Announces Over 4 Million Enrolled in SAVE Plan
This week, the Biden-Harris Administration announced that more than 4 million student loan borrowers nationwide – thousands in each state – are enrolled in the SAVE plan. This includes those who were transitioned from the previous Revised Pay As You Earn – or REPAYE – Plan.
The most affordable repayment plan ever, the SAVE plan will save millions of borrowers money on their monthly payments. Borrowers who earn less than $15 an hour will not be required to make payments, and anyone who does earn more will save more than $1000 on payments. The SAVE Plan also ensures that borrowers never see their balance grow due to unpaid interest as long as they keep up with their payments.
Read a sampling of the coverage below:
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Scripps News: Millions of college loan holders have enrolled in the SAVE Plan
More than 4 million borrowers have enrolled in the SAVE Plan to pay back their student loans, according to a Tuesday release from the Department of Education. The SAVE Plan is an income-driven repayment plan. Borrowers who make more than about $15 an hour and enroll in the plan are expected to save about $1,000 more a year compared to other income-based repayment options. Borrowers who make less than the $15 an hour threshold won’t have to make payments on their debt.
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The Detroit News: 143,600 Michigan borrowers enroll in Biden’s student loan repayment plan
The Biden administration says 143,600 student loan borrowers from Michigan are among 4 million who have enrolled in a new repayment plan that’s meant to lower their monthly bills, though Republican lawmakers plan to challenge it. President Joe Biden rolled out the new Saving on a Valuable Education (SAVE) earlier this summer after the U.S. Supreme Court blocked his plans for mass student loan forgiveness in June.
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Detroit Free Press: Thousands of Michigan student loan borrowers already signed up for new SAVE payment plan
In Michigan, some 143,600 student loan borrowers already are set up to reduce their monthly payments through the brand new SAVE income-driven repayment plan, according to information released Tuesday by the U.S. Department of Education. The figure reflects both those who signed up on their own and those who were automatically shifted over from an earlier income-driven repayment plan, called REPAYE.
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WANF (CBS Atlanta, Georgia): SAVE plan could lower costs for student loan debt
The White House recently introduced the Saving on a Valuable Education, or SAVE, plan, as federal student loan payments are set to resume Oct. 1. Eligible borrowers can enroll in this income-driven repayment plan to lower monthly bills and reduce the amount paid over the life of the student loan. Once the plan is phased in, some people will see their monthly bills cut in half and the remaining debt canceled after making at least 10 years of payments.
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WTOC (CBS Savannah, Georgia): Biden-Harris SAVE Plan aiming to create affordable options for student loan borrowers
A new plan by the Biden-Harris administration will allow those who have student loans enroll in a new program that could save them thousands of dollars. The application is on studentaid.gov and four million people have already signed up with about 180,000 in Georgia and 81,600 in South Carolina. Depending on how much money you borrowed for school, officials say the SAVE program will help some people’s payment down to $0 and save others around a $1,000 per year.
Conclusion
The Biden-Harris Administration’s SAVE plan has garnered significant enrollment across the country, with over 4 million student loan borrowers already enrolled. This income-driven repayment plan offers substantial savings for borrowers, particularly those earning less than $15 an hour who are not required to make payments. By emphasizing the Sustainable Development Goal of reducing poverty and promoting affordable education, the SAVE plan aligns with the global agenda for sustainable development.
SDGs, Targets, and Indicators in the Article
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 4: Quality Education
- SDG 8: Decent Work and Economic Growth
- SDG 10: Reduced Inequalities
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 4.3: By 2030, ensure equal access for all women and men to affordable and quality technical, vocational, and tertiary education, including university.
- SDG 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.
- SDG 10.1: By 2030, progressively achieve and sustain income growth of the bottom 40 percent of the population at a rate higher than the national average.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Number of student loan borrowers enrolled in the SAVE plan.
- Amount of money saved by borrowers on their monthly payments.
- Number of borrowers who do not have to make payments due to low income.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 4: Quality Education | Target 4.3: By 2030, ensure equal access for all women and men to affordable and quality technical, vocational, and tertiary education, including university. | Number of student loan borrowers enrolled in the SAVE plan. |
| SDG 8: Decent Work and Economic Growth | Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value. | Amount of money saved by borrowers on their monthly payments. |
| SDG 10: Reduced Inequalities | Target 10.1: By 2030, progressively achieve and sustain income growth of the bottom 40 percent of the population at a rate higher than the national average. | Number of borrowers who do not have to make payments due to low income. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: whitehouse.gov
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