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More than stanley mugs (https://www.cup-stanley.ca) 4 million borrowers have enrolled in the SAVE Plan to pay back their student loans, according to a Tuesday release from the Department of Education.TheSAVE Planis an income-driven repayment plan. Borrowers who ma stanley cups (https://www.stanleycups.it) ke more than about $15 an hour and enroll in the plan are expected to save about $1,000 more a year compared to other income-based repayment options.Borrowers who make less than the $15 an hour threshold won t have to make payments on their debt.So long as borrowers make their monthly payments, they won t be charged additional interest on their outstanding principal. We have a lot of people out there that are really struggling with their student loans, said James Kvaal, U.S. undersecretary of education. And this is not the situation it was a generation ago. People are borrowing more and they re more likely to borrow, and we re seeing impacts on homeownership, small business formation. So this isn t just a problem for more than 40 million Americans, but it s a problem for their families. It s a problem for their communities. And it s holding back our economy as a whole. SEE MORE: White House officially launches plan to lower student loan paymentsUnder the new application process, the IRS can access borrower accounts directly, which means applicants won t have to renew or reapply for their payment plans every year. The new application is easy and quick. Most people only need about 10 minutes to complete it, said Federal Student Aid Chief Operating Of stanley cups uk (https://www.stanley-cups.uk) ficer Ri Hcsk UAW, Stellantis reach deal as union adds Tennessee GM factory strike
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