March 26, 2025 - 10:21
The Department of Education is gearing up to reopen applications for various income-driven repayment plans starting Wednesday, according to sources familiar with the administration's intentions. This move is part of a broader effort to assist borrowers as they navigate their student loan obligations in a changing economic landscape.
Income-driven repayment plans are designed to adjust monthly payments based on a borrower's income and family size, offering a more manageable approach to repaying student loans. The reopening of these plans comes at a critical time, as many borrowers are seeking relief after a prolonged pause in federal student loan payments due to the pandemic.
The administration's decision is expected to provide much-needed support to countless individuals burdened by student debt. As the application process begins, borrowers are encouraged to review their options and consider how these plans may benefit their financial situations moving forward.
