College: Important, fun, interesting, and last but not least, expensive. These are things that come to mind when thinking of college. Recently, past, current, and future students received some exciting news regarding college costs.

On August 21, President Biden announced a new student loan plan that will start in 2024; it is known as SAVE. SAVE stands for “Saving on a Valuable Education”. The plan will be lowering undergraduate loan payments from 10% to 5%. To further the benefits, people who earn $15 or under will not have to make their monthly payments.

As a college-bound student, I find myself very excited for this plan to go into effect. This new plan will be a lifeline for me and many other students, as some of us can’t fully pay. I am now confident that I will be able to finance myself through college and beyond due to SAVE. 

There are seemingly endless possibilities now for people with student loans, they will finally be able to kick back and relax without the thought of student debt coming into mind. People will have the ability to do what they want without the financial burden of student loan debt; that truly is a groundbreaking thing for the American population.

A multitude of opportunities have now been presented to the general public due to SAVE. Now kids coming from middle and lower-income families can pursue a higher education without having to worry about a large student loan debt. There is no doubt America will have a more highly educated society with this plan. 

SAVE will ironically save America; instead of just 53% of Americans going to college, that percentage will now increase. Student debt payments will be lowered by 5% so that people can focus on their education, careers, lives, and politics and not on their debt. I believe that SAVE will save the past, present, and future students from any stress dedicated to student debt.