This week, Federal Student Aid (FSA) Chief Operating Officer Richard Cordray will speak at the “All About SAVE” series of webinars across the country about the benefits of the Biden-Harris Administration’s Saving on a Valuable Education (SAVE) Plan for federal student loan borrowers.

The SAVE Plan, launched by the U.S. Department of Education last August, is a new income-driven repayment (IDR) plan that helps to ease the financial burden of student loans. Tailored to offer the lowest monthly payments among IDR plans, SAVE particularly benefits low- and middle-income earners, public service workers, community college graduates, and those who originally borrowed $12,000 or less in student loans. Under the SAVE Plan, borrowers can also say goodbye to their loan balance increasing from unpaid interest. As long as they keep up with their monthly payments— which could be as low as $0—the government will cover any leftover monthly interest.