HR 6593
Codifying SAVE Plan Act
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Bill overview
This bill aims to make the SAVE Plan, a new income-driven repayment plan for federal student loans, a permanent part of federal law. Currently, the plan is based on a Department of Education rule, but this legislation would codify that rule, giving it the same legal standing as a congressional law. This would provide greater stability and clarity for borrowers enrolled in the SAVE plan. The bill essentially formalizes the existing regulations and ensures they remain in effect.
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