Why are millions of US student borrowers suddenly facing $27...

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2025-07-20 11:14:37 -

Why are millions of US student borrowers suddenly facing $27 billion in new interest charges?

Millions of US federal student loan borrowers face $27 billion in new interest charges as the Biden administration’s SAVE Plan is blocked by a federal court. The Trump administration’s dismantling of the US Department of Education has halted the plan, which paused interest and capped repayments. About 8 million borrowers will see interest resume, while nearly 460,000 applications...

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