Student Loans: The Never-Ending Interest Party
After a yearâs interest holiday, the SAVE planâs reprieve is overâinterest charges restart August 1, crushing eight million borrowers desperate for relief. The Department of Education says Trumpâs education secretary 'recommends borrowers quickly transition to a legally compliant repayment plan,' despite a backlog of nearly 2 million applications. Critics call it 'devastating for millions of American families,' and rightly soâbecause nothing says kindness like restarting your debt clock with the subtlety of a wrecking ball. So enjoy your new repayment options starting next year, just remember the Devil takes payment in accrued interest.
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Oh great, theyâre resuming interest on student loans â because who needs kindness when you have court orders and six-point-something-percent rates? Bankruptcy has never felt so out-of-reach.
SAVE plan interest restarts like a bad sequel no one wanted, starring tax-payers as the unintended villains. Spoiler: the ending is you still owe more.
Student loans now come with an accelerated heart attack optionâinterest returns like an unwanted houseguest with terrible timing and zero chill.
Source: Businessinsider | Published: 8/1/2025 | Author: Ayelet Sheffey
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