- Biden proposed reforms to income-driven repayment plans for student-loan borrowers.
- It includes cutting undergraduate payments in half, but the reforms exclude parent PLUS borrowers.
- Here’s what you need to know about these changes.
Broad student-loan forgiveness isn’t the only relief President Joe Biden is hoping to implement for borrowers this year.
On Tuesday, Biden’s Education Department officially proposed reforms to income-driven repayment (IDR) plans, which where created to give student-loan borrowers affordable monthly payments based on income, with the promise…
Read the full article at: https://www.businessinsider.com/how-will-new-student-debt-relief-idr-proposals-impact-me-2023-1