Student Loan payments resuming: Should you apply for President Biden’s SAVE plan?

The Biden administration on Tuesday launched a new income-driven student loan repayment plan as thousands of borrowers prepare to resume repayments. Unlike the previous plan to cancel $20k in federal debt, the SAVE plan will be available to current and future borrowers. This also creates a safety net for students that start falling behind on their payments which then they'll be enrolled  in the program automatically. Caitlyn Johnston, Producer and Shane Stewart, Certified Financial Planner, DMBA joined the show. See omnystudio.com/listener for privacy information.