Interest charges will restart Aug. 1 for student-loan borrowers enrolled in the SAVE repayment plan, the Education Department announced Wednesday, Business Insider reported.
The department said the interest restart is in compliance with a court order issued earlier this year that upheld the block on the SAVE plan, which was created under the Biden administration and struck down as illegal by the 8th U.S. Circuit Court of Appeals last July.
“Since day one of the Trump Administration, we’ve focused on strengthening the student loan portfolio and simplifying repayment to better serve borrowers,” Education Secretary Linda McMahon said in a statement.
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