Defend the SAVE Plan for Student Loan Borrowers

We, the undersigned, urge the U.S. Department of Education to strongly defend the SAVE Plan to provide critical relief for student loan borrowers.

Background:

With 45 million borrowers depending on the Biden-Harris Administration for clarity and assurance regarding student debt cancellation, many have enrolled in the SAVE Plan. 

This plan was designed to lower monthly payments and cap accruing interest, offering hope to countless families. However, due to legal challenges, the implementation of this plan has been blocked, leaving borrowers in a state of turmoil and confusion.

Since payments resumed last October, families have had to restructure their lives around student loan payments, adding to the financial strain they already face due to inflation. The lack of a clear path to relief puts millions at risk of financial hardship.

Our Demands:

Defend the SAVE Plan in the Courts: We call on the Administration to take decisive action in defending the SAVE Plan against legal challenges and ensure its prompt implementation.

Provide Administrative Forbearance: We urge the Department to place all borrowers in administrative forbearance to alleviate financial burdens while the SAVE Plan is being restored.

Communicate Clearly with Borrowers: Ensure that borrowers receive timely updates and clear information regarding all of their repayment options and the status of the SAVE Plan to reduce confusion and anxiety.

Why This Matters:

Millions of Americans are facing unprecedented economic challenges. The continuation of legal battles regarding the SAVE Plan only exacerbates their struggles. The Department of Education must act now to secure a pathway to relief and restore hope for borrowers who have patiently awaited assistance.

We call on the Department of Education to prioritize the needs of borrowers and take the necessary steps to defend and implement the SAVE Plan for the sake of financial stability and justice for millions of families.