Federal student loan borrowers can expect “the most affordable student loan plan ever”, Biden said in a video address on Tuesday announcing significant changes to the debt from higher education held by over an eighth of the country.

  • Frozengyro@lemmy.world
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    1 year ago

    Do you still pay interest on those loans with low monthly payments? Because that will just make the problem worse in the long run.

    • mctit@lemmy.world
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      1 year ago

      Yes, but the interest charged per month can’t be higher than what you pay, so your balance can never increase if you’re making payments.