"Record-breaking Enrollment in Biden's Student Loan Repayment Plan Sparks GOP Opposition"

Over 4 million people have enrolled in President Biden's new student loan repayment plan, known as SAVE, which aims to lower monthly bills as student loan payments resume in October. The plan, available to most federal student loan borrowers, provides relief to those struggling with debt. While some borrowers were automatically transferred from a previous repayment plan, others must apply for SAVE. The plan calculates payments based on income and family size, with some borrowers seeing payments set at $0. Unpaid interest will not accrue if a full monthly payment is made. Additional parts of the plan will be phased in next year, including shorter time to debt forgiveness. The Biden administration is also pursuing a separate pathway for student loan forgiveness, but it may take months or years to implement.