- Skip to main content
- About Us
- Contact Us
- FAQs
-  Language Assistance ****    - English
  - español
  - 中文: 繁體版
  - Việt-ngữ
  - 한국어
  - Tagalog
  - Русский 

U.S. Department of Education

U.S. Department of Education

        - Student Loans
        - Grants
        - Laws
        - Data

# Biden-Harris Administration Announces More Than 4 Million Student Loan Borrowers Are Enrolled in the New SAVE Plan

# Biden-Harris Administration Announces More Than 4 Million Student Loan Borrowers Are Enrolled in the New SAVE Plan

September 5, 2023

**Contact:  **press@ed.gov

                                    -        
The U.S. Department of Education today announced more than 4 million student loan borrowers are enrolled in the Biden-Harris Administration's new Saving on A Valuable Education (SAVE) income-driven repayment (IDR) plan, including those who were transitioned from the previous Revised-Pay-As-You-Earn (REPAYE) plan. Additionally, the Department has received more than 1.6 million IDR applications through StudentAid.govsince July 30, and nearly one million of those applications are for the SAVE plan, the most affordable IDR plan ever.

"Millions of borrowers are already benefitting from enrollment in the SAVE plan, and I'm thrilled to see so many Americans submitting applications every day so that they, too, can take advantage of the most affordable student loan repayment plan in history," said U.S. Secretary of Education Miguel Cardona. "From Day One of this Administration, President Biden has focused on reducing the burden of student loan debt on working families, and we are not stopping now. Enrollment is quick and easy, and we are working relentlessly to get the word out to borrowers about how millions can reduce their monthly student loan bills and save over a thousand dollars a year by enrolling in SAVE."

Under the SAVE Plan, a single borrower who makes less than about $15 an hour will not have to make any payments, and borrowers earning above that amount would save more than $1,000 a year on their payments compared to other IDR plans. The SAVE Plan also ensures that borrowers never see their balance grow due to unpaid interest as long as they keep up with their payments. The new IDR application allows borrowers to have their income accessed securely from the Internal Revenue Service so they do not need to re-certify their income or re-apply for IDR 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 Officer Richard Cordray. "Borrowers can get their monthly payment calculated in real time, and they can choose to have their IDR application recertified automatically each year."

Borrowers applying for the SAVE plan or other IDR plans will see their new payment amount before submitting their application, and it will be displayed on their servicer's website when their first bill is sent. Most borrowers who apply for the SAVE Plan can expect their next payment to reflect their SAVE amount. Servicers will place borrowers in a forbearance if they need more time to process their application. After borrowers apply, they can check the status of their application by visiting their account dashboard on StudentAid.gov. Borrowers can also use Loan Simulator to calculate student loan payments across other repayment plans and choose a loan repayment option that best meets their needs and goals.

The Department and its servicers have reached out directly to nearly 30 million borrowers to invite them to use the new IDR application to apply for the SAVE Plan. This outreach is part of the Department's robust campaign to provide information and resources to borrowers to support them.  The Department has also been in direct touch with 43 million borrowers and will continue to coordinate with servicers and outside partners to provide additional high-quality communications with specific, actionable information directly to borrowers to make sure every borrower has the information they need to make the best repayment decision for themselves. In addition, the Department has instituted a 12-month on-ramp to protect borrowers from the harshest consequences of missed, partial, or late payments.

The Department has also begun a nationwide outreach campaign called "SAVE on Student Debt" in collaboration with leading grassroots organizations. "SAVE on Student Debt" is leveraging strategic partnerships across public, private, and nonprofit sectors to make sure borrowers know the supports available to them as they return to repayment and can they take full advantage the SAVE Plan and other available benefits and debt forgiveness programs.

The SAVE Plan builds on the work the Biden-Harris Administration has already done to improve the student loan program and make higher education more affordable. The Biden-Harris Administration has already approved more than $117 billion in targeted relief for 3.4 million student loan borrowers, including:
- $39 billion for 804,000 borrowers through fixing historical inaccuracies in the IDR payment count system for borrowers who earned forgiveness;
- $45.7 billion for 662,000 public servants through improvements to Public Service Loan Forgiveness (PSLF);
- $10.5 billion for 491,000 borrowers who have a total and permanent disability; and
- $22 billion for nearly 1.3 million borrowers who were cheated by their schools, saw their schools precipitously close, or are covered by related court settlements.

The Biden-Harris Administration remains committed to making college more affordable and ensuring student debt is not a roadblock to attaining a college degree or credential, or planning for the future. The Administration has made the largest increase to Pell Grants in a decade and has charted a course to double the maximum Pell Grant and make community college free to enhance college affordability and reduce unnecessary student debt. The Administration is also holding institutions accountable for unaffordable debts and recently proposed regulations that would set standards for earnings and debt outcomes for career programs while enhancing transparency for all programs to give students the information they need to make informed choices.

Borrowers can view more resources and tools that help them find the right repayment plan for their current circumstances at StudentAid.gov/restart. More information about SAVE is available at StudentAid.gov/save.

**State by State Data on SAVE Enrollment:**
Borrowers Enrolled in SAVE
**Location**

**Borrower Count**

Alaska

                     6,300

Alabama

                   63,500

Arkansas

                   38,500

Arizona

                   87,200

California

                 331,600

Colorado

                   78,500

Connecticut

                   39,300

District of Columbia

                   13,100

Delaware

                   12,300

Florida

                 291,100

Georgia

                 178,600

Hawaii

                   11,000

Iowa

                   39,900

Idaho

                   25,100

Illinois

                 142,100

Indiana

                   89,500

Kansas

                   35,000

Kentucky

                   60,300

Louisiana

                   63,800

Massachusetts

                   66,700

Maryland

                   75,600

Maine

                   18,800

Michigan

                 143,600

Minnesota

                   73,900

Missouri

                   82,300

Mississippi

                   45,300

Montana

                   13,800

North Carolina

                 144,300

North Dakota

                     7,500

Nebraska

                   22,400

New Hampshire

                   15,600

New Jersey

                   92,300

New Mexico

                   25,000

Nevada

                   35,300

New York

                 212,800

Ohio

                 181,400

Oklahoma

                   45,100

Oregon

                   61,500

Pennsylvania

                 170,200

Puerto Rico

                   26,200

Rhode Island

                   12,000

South Carolina

                   81,600

South Dakota

                   10,700

Tennessee

                   91,800

Texas

                 345,800

Utah

                   30,000

Virginia

                 104,800

Vermont

                     7,500

Washington

                   74,800

Wisconsin

                   70,100

West Virginia

                   22,800

Wyoming

                     5,100

All Other Locations

                   46,500

**TOTAL**

**4,069,800**
   -  Tags: Student Financial AidStudent Loan ProgramsPress Releases
          How Do I Find...?    - Student loans, forgiveness
- Higher Education Rulemaking
- College accreditation
- Every Student Succeeds Act (ESSA)
- FERPA
- FAFSA
- 1098, tax forms
- More...
      Information About...    - Elevating Teaching
- Early Learning
- Engage Every Student
- Unlocking Career Success
- Cybersecurity
Search press releasesSearch for:      Find By Month    - February 2024 
- January 2024 
- December 2023 
- November 2023 
- October 2023 
- September 2023 
- August 2023 
- July 2023 
- June 2023 
- May 2023 
- April 2023 
- March 2023 
- All Press Releases
             
*Our mission* is to promote student achievement and preparation for global competitiveness by fostering educational excellence and ensuring equal access.
- Student Loans
- Repaying Loans
- Defaulted Loans
- Loan Forgiveness
- Loan Servicers
- Grants & Programs
- Apply for Pell Grants
- Grants Forecast
- Apply for a Grant
- Laws & Guidance
- Every Student Succeeds Act (ESSA)
- FERPA
- Civil Rights
- IDEA Website
- Data & Research
- Education Statistics
- Postsecondary Education Data
- ED Data Express
- Nation's Report Card
- What Works Clearinghouse
- Open Data Platform
- COVID Relief Data
- About Us
- Contact Us
- ED Offices
- Jobs
- Press Releases
- FAQs
- Recursos en español
- Budget, Performance
- Privacy Program
- Homeroom Blog
- Notices
- FOIA
- Privacy Policy
- Accessibility
- Security
- Information Quality
- Inspector General
- Whitehouse.gov
- USA.gov
- Benefits.gov
- Regulations.gov