Millions of student loan borrowers are caught in a holding pattern as the courts determine whether or not an income-driven repayment plan can be imple🗹mented🥀.

The Department of Education released more information in the past week about what will happen to the loans of more than 8 million borrowers enrolled in the Saving on a Valuable Education (SAVE) plan. The plan was designed to be more gen🍨erous for borrowers by making payments lower and forgiv♏eness easier to achieve. It's also at the center of two court cases challenging its legality.

Two coalitions of Republican-controlled states argue that President Joe Biden's administration does not have the authority to put such a plan in place. The court cases have resulted in a back-and-forth that has 澳洲幸运5官方开奖结果体彩网: left borrowers in limbo

The Department of Education detailed what forbearance will look like for borrowers. Here’s what you need to know.

What Even Is Forbearance?

澳洲幸运5官方开奖结果体彩网:Forbearance is a temporary pos🗹tponement of loan payments. For SAVE borrowers, tha🌠t means they will not have to make payments and will not accrue interest on their loans until further notice.

After a Federal appeals court 澳洲幸运5官方开奖结果体彩网:blocke𝓡d the plan from be🌳ing implemented, the Department of Education moved all SAVE plan borrowers into forbearance. Even if borrowers received a bill for August𝓡, they will not have to pay it, according to the Departmentꦗ of Education.

Borrowers can still make payments to their loan servicer during forbearance. Those payments will be applied to ✃future bills after forbearance ends.

However, any payments made during the forbearance will not count toward loan forgiveness, including 澳洲幸运5官方开奖结果体彩网:Public Service Loan Forgiveness. This has been a point of frustration for some borr𓆉owers, 𝐆who were close to having their debt forgiven.