The Biden administration unveiled a beta website for its new income-driven repayment plan. Borrowers who sign up could see their payments cut to as little as $0 per month.
The site allows borrowers to start submitting applications for the new SAVE—Saving on a Valuable Education—plan. It takes approximately 10 minutes for borrowers to apply, according to the site; they must provide details from their tax returns to determine eligibility (they can also self-certify their income directly with their loan servicer).
