skip to main content
skip to newscasts

Friday, June 21, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Expert warns of upcoming threats to democracy across the nation; Judge in Trump documents case rejects suggestions to step aside; NC businesses fear effects of 'bathroom bill'; Report says restaurants allow abuse, disease risk at MD animal farms.

view newscast page
play newscast audioPlay

A congresswoman celebrates Biden protections for mixed status families, Louisiana's Ten Commandments law faces an inevitable legal challenge, and a senator moves to repeal the strict 19th century anti-obscenity and anti-abortion Comstock Act.

view newscast page
play newscast audioPlay

Rural educators say they need support to teach kids social issues, rural businesses can suffer when dollar stores come to town, prairie states like South Dakota are getting help to protect grasslands and a Minnesota town claims the oldest rural Pride Festival.

MT Sees Sluggish Signup for SAVE Program to Reduce Student Debt

play audio
Play

Friday, September 8, 2023   

The U.S. Department of Education said more than 4 million Americans have enrolled in the Biden administration's college loan repayment program, known as SAVE.

In Montana, more than 130,000 borrowers qualify.

The SAVE program bases a borrower's loan repayments on their discretionary income; money remaining after buying basic necessities. And it increases the amount of income protected from student loan repayment obligations. The plan could eliminate some borrowers' debt completely, and others could save as much as 40% a month.

Robert Farrington, founder of The College Investor website, said nearly every borrower in Montana can benefit, but few have applied.

"In Montana specifically, 13,800 borrowers have already signed up for the SAVE repayment plan out of 132,000 borrowers in the state," Farrington reported. "Almost 10% have already signed up, but there's a lot more who could be eligible in the state of Montana."

After a three-year hiatus, student loan payments resume Oct. 1. Opponents argued canceling debt comes at the expense of American taxpayers.

Farrington pointed out there have been income driven repayment plans in the past, but none with rates as aggressive as the SAVE program's. Most calculate discretionary income using 225% of the federal poverty level. The SAVE program uses 150%.

"What this means for borrowers is those with low incomes, and those with larger families, will see lower payments," Farrington emphasized. "Some people could see payments as low as zero dollars a month."

Critics of the SAVE plan, including Sen. Steve Daines, R-Mont., said it shoulders American taxpayers with student loan debt they did not incur. Others have called it a slap in the face to Americans who worked multiple jobs to pay for college.


get more stories like this via email
more stories
The 2024 Summer U.S. Conference of Mayors in Kansas City, Mo., will be under the leadership of its president, Mayor Hillary Schieve of Reno, Nev., and host Kansas City Mayor Quinton Lucas.
(SeanPavonePhoto/Adobe Stock)

play sound

Some Michigan mayors are out of the office this week - but still working for their cities. They're at the 92nd meeting of the United States …


Social Issues

play sound

An interim North Dakota legislative committee this week got an update from state leaders on potential moves to reconnect kids in foster care with thei…

Environment

play sound

Eastern Kentucky Power Cooperative is planning two new solar farms to diversify its electric-generation fleet, reducing carbon emissions and meet the …


Ohio resident Jeremy Madden, his wife and their adopted daughter. (Jeremy Madden)

Social Issues

play sound

More employers are offering benefits to adoptive parents, according to a new survey by the Dave Thomas Foundation for Adoption. The amount of paid …

Social Issues

play sound

The Arizona Court of Appeals recently dismissed a case brought by Republican Arizona attorney general candidate Abraham Hamadeh, Republican Cochise …

North Carolina is home to 934,604 small businesses. (Adobe Stock)

Social Issues

play sound

North Carolina's business community is alarmed after Lt. Gov. Mark Robinson praised the controversial House Bill 2, known as the "Bathroom Bill," at …

Social Issues

play sound

Members of the group Radical Elders are participating in a Chicago tech conference this weekend to explain the impact of technology on older Americans…

play sound

Danskammer Energy is no longer seeking an expansion of its Newburgh plant. The original plan called for expanding the company's "peaker plant" meant …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021