this post was submitted on 23 Aug 2023
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Federal student loan borrowers can expect “the most affordable student loan plan ever”, Biden said in a video address on Tuesday announcing significant changes to the debt from higher education held by over an eighth of the country.

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[–] mctit@lemmy.world 16 points 1 year ago* (last edited 1 year ago) (1 children)

Yes, but the interest charged per month can't be higher than what you pay, so your balance can never increase if you're making payments.

[–] charles@poptalk.scrubbles.tech 2 points 1 year ago* (last edited 1 year ago)

Also there is a forgiveness period after 10+X years for $12+X thousand in subsidized loans (as I understand it).