The Biden administration’s new income-driven repayment plan, SAVE, will reduce payments for millions of borrowers and more will qualify for $0 payments.
A sudden influx of cash can offer a sense of relief for a young person. But for those grieving a loss or dealing with large sums of money for the first time, it can also feel overwhelming.
Debt rose to more than $1 trillion in the second quarter, a report found — a sign of financial strain for some, even before student loan payments resume.