'It's a big deal': New student loan plan could cut payments for borrowers

WASHINGTON (NEXSTAR) — Soon, millions of borrowers are going to have to start paying back their student loans again. The Biden administration is touting a new plan they say will help lower monthly payments and bring borrowers closer to forgiveness. On Tuesday, the Department of Education launched the "SAVE Plan," which Education Under Secretary James Kvaal calls the most affordable student loan repayment plan ever. "It's a big deal," Kvaal said. Under the SAVE Plan, monthly