Loan Survivor
Whether you have a college degree or are pursuing one, chances are high your diploma carries thousands, tens of thousands, or even hundreds of thousands of dollars in debt. Though President Joe Biden announced plans to cancel up to $20,000 in student loan debt, courts have blocked the loan forgiveness plan. As the administration works to resolve the litigation, it's unveiled a proposal to reform the income-driven loan repayment plans, capping payments for undergrad borrowers at 5% of their income instead of the current 10% and raising the income threshold that would trigger repayment to $30,600. But no matter what happens in the courts, the pause on federal student loan repayment has been extended to June 30, giving borrowers a reprieve for now.