Paying for College

The Education Department said it would put the borrowers in forbearance while it recalculated their payments to comply with recent court rulings.

El plan basado en los ingresos conocido como SAVE tiene más de ocho millones de beneficiarios inscritos. El Departamento de Educación está evaluando los fallos judiciales.

More than eight million borrowers are enrolled in the income-driven plan known as SAVE. The Education Department is assessing the rulings.

Higher rates benefit those who can save, but for borrowers falling rates would reduce bills on credit cards, home equity loans and other forms of debt.

The Education Department has not finished recalculating payments for millions of borrowers enrolled in SAVE, forcing loan servicers to put many loans into forbearance.

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The Education Department has temporarily stopped processing applications and other forms as it updates its systems and deals with problems plaguing the program.

Higher rates benefit those who can save, but for borrowers falling rates would reduce bills on credit cards, home equity loans and other forms of debt.

Experts say high school seniors are more likely to go to college if they complete the financial aid form, but the state sees privacy issues with mandating it.