Biden-Harris Administration Encourages Enrollment in SAVE Plan

The White House is launching its SAVE (Saving on a Valuable Education) Day of Action to promote the SAVE Plan, which has an enrollment of more than 7.7 million federal student loan borrowers. The launch seeks to help increase enrollment heading into summer 2024.

Vice President Kamala Harris“President Biden and I know that far too many people in our nation are struggling with student loan debt,” said Vice President Kamala Harris. “That is why we have forgiven nearly $144 billion for almost four million Americans while also creating the SAVE Plan so that millions of people can cut their payments in half or entirely.

“On SAVE Day of Action, I am urging people across the nation to visit StudentAid.Gov/Save to apply as the president and I continue fighting to address the burden of student debt and lower costs throughout the country.”

SAVE Day of Action builds on the launch of the SAVE on Student Debt campaign in 2023. A kick-off event will be led by Secretary of Education Miguel Cardona, Domestic Policy Advisor Neera Tanden, Office of Public Engagement Director Stephen Benjamin, and other senior administration officials at the White House.

As part of the SAVE Day of Action, the Council of Economic Advisors is releasing a new report highlighting how the SAVE Plan will help low- and middle-income borrowers, those in public service, and community college graduates, among other borrowers. The report showcases how the SAVE Plan will lower or eliminate monthly payments, prevent balance growth, and potentially shorten time to forgiveness.

The U.S. Department of Education plans to co-host a public webinar series for borrowers the week of April 22, which will highlight the benefits of the SAVE Plan.