A new program for student debt is being launched by President Biden.
The new approach comes as student loan payments are set to resume in October after a long pause because of the pandemic.
The president’s new plan could lower monthly payments for some borrowers, and reduce the amount they pay back over the lifetime of their loans.
Borrowers will only need to apply once, not yearly.
The ‘Save Plan’ can be found on the studentaid.gov website, and will be fully functional next month.