Millions of student loan borrowers who thought they wouldn’t have to pay back their student loans under former President Joe Biden’s loan forgiveness plan found out March 27 they will have to start making payments on the money they borrowed.
The U.S. Department of Education began notifying 7.5 million borrowers on March 27 who enrolled in Biden’s “Saving on a Valuable Education” (SAVE) plan that they must exit the plan and enter a new federal repayment plan.
