Student Loan Repayment Overhaul Begins July 1 – About 140,000 Michigan Borrowers Could Face Higher Monthly Payments
New federal law begins phasing out the Biden administration's SAVE repayment program, requiring many borrowers to choose new repayment plans in the months ahead. Some could see monthly payments increase by more than $100, depending on their financial circumstances. ANN ARBOR – A sweeping overhaul of the federal student loan repayment system begins July 1,