The Wall Street Journal
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How Student Loans Are Changing, Regardless of the Supreme Court Ruling | WSJ
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February 27, 2023
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6:59Now PlayingThe Supreme Court has struck down Biden’s forgiveness plan - but that’s only a part of Biden’s student loan plan. Another important part is set to take effect in July: an overhaul of income-driven repayment plans.
Under the current system, borrowers who go into an income-based repayment plan regularly end up owing more money a decade later than they originally took out. Biden’s policy changes how interest is calculated in those plans and turns many undergraduate loans into, essentially, college grants. Thousands of borrowers will end up with a monthly payment of $0.
WSJ explains the big changes coming to repayments this summer—regardless of how the Supreme Court rules.
Illustration: Madeline Marshall
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