that would have made it easier for students who had been defrauded by for-profit colleges to have their loans forgiven.
Under the so-called SAVE income-driven repayment plan announced on Tuesday, the amount qualified borrowers have to pay each month on their undergraduate loans will be cut from 10 percent to 5 percent of discretionary income. About 1 million more low-income borrowers will qualify for no monthly payments at all.
"We are continuing to pursue an alternative path to deliver student debt relief to as many Americans as possible as quickly as possible," the White House said in a statement.
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