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Codifying SAVE Plan: Securing Student Loan Repayment Benefits.

This bill aims to convert the current regulations governing the SAVE Plan (an income-driven student loan repayment program) into permanent federal law. This action secures the program's rules, which lower monthly payments and offer faster debt forgiveness, making them resistant to easy administrative changes. For citizens utilizing the SAVE Plan, this provides greater certainty and stability regarding their educational debt repayment terms.
Key points
The SAVE Plan, which lowers monthly student loan payments, is being made permanent federal law.
Secures current income-driven repayment rules, protecting them from future regulatory changes.
Provides long-term financial stability for millions of federal student loan borrowers.
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Expired
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Additional Information
Print number: 118_S_4058
Sponsor: Sen. Merkley, Jeff [D-OR]
Process start date: 2024-03-22
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Codifying SAVE Plan Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4058.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-03-22.

What are the main provisions?

Key points include:

  • The SAVE Plan, which lowers monthly student loan payments, is being made permanent federal law.
  • Secures current income-driven repayment rules, protecting them from future regulatory changes.
  • Provides long-term financial stability for millions of federal student loan borrowers.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Merkley, Jeff [D-OR].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Education Benefits Economy