The Biden Administration has announced the official launch of the most affordable student loan repayment plan - the Saving on a Valuable Education (SAVE) plan.
Also, an outreach campaign to encourage eligible borrowers to sign up for the plan has been kicked off.
The SAVE plan is an income-driven repayment (IDR) plan that calculates payments based on a borrower's income and family size - not their loan balance - and forgives remaining balances after a certain number of years.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.