The Trump administration has put forward a proposal that could potentially bring millions of borrowers back into repayment from the Biden-era payment pause.

Over 7 Million Borrowers To Be Brought Under Repayment

The U.S. Department of Education on Tuesday announced a proposed joint settlement with Missouri, which could lead to the end of the Saving on a Valuable Education (SAVE) plan. This plan was established by the Biden administration to provide relief to student loan borrowers.

Under the proposed settlement, the Education Department is pledging not to enroll new borrowers in the SAVE program and to place all existing participants into legally recognized repayment plans. As of July, over 7.6 million borrowers were enrolled ...