The Education Department said on Wednesday it would resume applying interest on Aug. 1 to federal student loans of nearly ...

Federal student loan borrowers who enrolled in President Biden's SAVE income-driven repayment plan have been in an ...

The Trump administration will resume charging interest next month on student loans under the Biden-era SAVE plan, which have ...

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

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

Thanks to yet another change to the student loan process, some borrowers may find that their current repayment plan is ...

Millions of Americans with student loans will soon face resumed interest accrual and monthly payments as changes made under ...

Although interest will restart next month, borrowers enrolled in SAVE remain in a general forbearance -- for now. If you're ...

Analysis projects that a typical borrower will be forced to pay more than $3,500 per year, or $300 per month, as interest ...

The department urges all borrowers in the SAVE plan to quickly transition to a legally compliant repayment plan,” Secretary of Education Linda McMahon said in a news release.

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

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.