Interest on student loans for low-income borrowers is about to skyrocket
When President Joe Biden announced the creation of the Saving on a Valuable Education (SAVE) program in 2023, Sarah Letsinger enrolled immediately. Graduating in 2012 with a degree in fashion design, Letsinger never earned more than $16 an hour in her chosen field—and hardly made a dent in her approximately $35,000 in federal student loans. After she gave birth to her daughter in March 2020, the day her state of Illinois announced its Covid lockdown, she realized that if she returned to work, he...