Biden Tries Again On Student Loans, Cuts Payments For Deadbeats

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At a glance

  • The U.S. Department of Education proposed regulations Tuesday that would reduce the monthly bills for certain federal student loan borrowers.
  • The new repayment plan could lower monthly payments for certain borrowers to 5% of their discretionary income, from 10%.
  • Some borrowers may save $2,000 a year from the change, according to a fact sheet.

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