Student Loan Interest Resumes

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SAVE, student loan

Interest will start accruing again on Aug. 1 for student loan borrowers on the SAVE plan

Federal student loan borrowers who enrolled in President Biden's SAVE income-driven repayment plan have been in an interest-free forbearance for nearly a year.

The New York Times · 7d

8 Million Federal Student Loan Borrowers Will Soon See Interest Restart

It will kick back in on Aug. 1 for people in the SAVE repayment program, whose payments have been on hold since last summer.

Newsday · 4d

Interest on SAVE plan student loans will resume Aug. 1: What borrowers need to know

Education Secretary Linda McMahon, in a statement, urged "all borrowers in the SAVE Plan to quickly transition" to a different loan program.

7don MSN

Millions of Americans are about to see their student loans accrue interest again. Here’s what to know.

The Trump administration said borrowers enrolled in the SAVE program will see their balances grow, starting in August.

The Motley Fool1y

Student Loan Interest Resumes Today. Here's What That Means for ...

For example, if you owe $40,000 on your student loans and have an average interest rate of 6% (0.06), multiplying these together shows annual interest of $2,400.

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SAVE, student loan

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