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1.4 million Texans’ student debts won’t be canceled. But a new loan repayment plan could bring savings.

After the U.S. Supreme Court ended President Joe Biden’s debt cancellation program, advocates for lowering student loan debt say the federal SAVE plan, an updated loan repayment program, could save Texans and other borrowers a lot of money in interest.

Students walk the University of North Texas campus in Denton, TX on February 24, 2022.

What is the new income-driven repayment plan about?

How does the current program work?

What will change in the revised plan?

Can you give me an example of how the plan would work?

Who can apply for this plan?

What other repayment alternatives exist and how do they compare to the new plan?

When would the new plan come into effect?

Why might the new program be more beneficial for borrowers?

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Higher education