Student Loan Update: Senator Urges Change Impacting Hundreds of Thousands
Senator Kirsten Gillibrand is urging federal officials to intervene during the transition period for student loan repayments following the end of the SAVE plan. She highlights that the previous administration's actions have left many borrowers in a difficult situation, facing delays and increased payments. Gillibrand advocates for measures to protect borrowers from penalties and abrupt payment increases as they shift to new repayment plans.
- ▪Senator Gillibrand is calling for federal intervention during the student loan repayment transition.
- ▪The end of the SAVE plan has left millions of borrowers facing higher payments and uncertainty.
- ▪Gillibrand emphasizes the need to protect borrowers from penalties for time spent in forbearance.
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By Suzanne BlakeReporter, Consumer & Social TrendsShareNewsweek is a Trust Project memberSee more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.U.S. Senator Kirsten Gillibrand is calling on federal officials to step in during the current student loan repayment transition period at the Department of Education.As fallout continues from the Trump's administration's repeal of the Biden-era SAVE repayment plan, Gillibrand said hundreds of thousands of borrowers could be impacted.“The Trump administration’s mismanagement has caused massive backlogs of applications for both of those plans, leaving more than half a million borrowers in a devastating limbo.
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