House Republicans on Thursday advanced legislation to overturn President Joe Biden’s new student loan repayment program that lowers monthly payments and caps interest.
The House education committee voted 23-19, along party lines, to approve a resolution, H.J. Res. 88, that would block the new income-driven repayment plan — dubbed the SAVE plan — that was finalized by the Education Department earlier this year.
Biden officials are promoting the program as a crucial tool to help millions of Americans manage their federal student loan payments, which are set to resume in October for the first time in more than three years.
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