a sweeping new plan Monday aimed at erasing or lowering student loan debt for more than 30 million people, the second attempt to offer widespread forgiveness after the Supreme CourtSaving on a Valuable Education
repayment plan and other income-driven repayment plans—including single borrowers earning $120,000 or less and married borrowers earning $240,000 or less. Debt would automatically be forgiven for eligible borrowers who have not applied for relief due to “paperwork requirements, bad advice, or other obstacles,” according to a White House press release—including those that took out $12,000 or less and have been in repayment for a decade under the SAVE plan; those enrolled ins repayment that have been working for 10 years and have made 120 months of payments; and other routes of forgiveness, such as...
The proposal would also cancel debt for more than 2.
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