TUCSON, Ariz. (KGUN 9) — As many are divided on whether or not to offer student loan forgiveness, the Biden administration is offering new payment plans.
Starting in October, student loan payments are set to resume. Many borrowers are already getting notified by their lenders.
"I know it's a very big struggle," said Pima Community College student Katelyn Swinney. "So I feel very bad for people who have to deal with that and worry about that a lot."
"I am just lucky enough to where I don't have to but if I didn't have any of that," said Kyra Dillard, a current student at the University of Arizona. "I would definitely be stressing because college is definitely very expensive nowadays."
So what payment plan is right for you?
"A lot of people go to college and don't even think about it until they're, like, out of college and need to pay them off," said UA student Kylin White.
As it stands there are several student loan plans available—some even offering student loan forgiveness.
Borrowers can also now begin enrolling in a new income-driven repayment plan on Studentaid.gov.
It's called the Saving on a Valuable Education (SAVE) Plan, which raises the income exemption.
The new plan comes on the heels of the supreme court striking down President Biden's student loan forgiveness plan.
Borrowers will also not be penalized for missing payments until September of 2024.
To find out what the best plan is for you contact your local student loan lender.
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Denelle Veselik is an anchor and investigative reporter for KGUN 9. It's been her dream to tell your stories for the past decade. She is extremely curious and wants to continue to use her storytelling for the greater good. Share your story ideas and important issues with Denelle by emailing denelle.veselik@kgun9.com or by connecting on Facebook, Instagram and X/Twitter.
