Over 470,000 Californians enrolled in Biden’s SAVE student loan plan. Here’s where they live
Nearly half a million student loan borrowers in California enrolled in the new income-driven repayment plan, the U.S. Department of Education announced last week.
President Joe Biden’s Saving on a Valuable Education plan now has nearly 5.5 million borrowers, including 470,200 enrollees in California. There are 2.9 million borrowers who have $0 payments; the rest are saving around $102 a month compared to the Revised Pay As You Earn plan (which SAVE replaced), according to a news release from the department.
“Under President Biden, the Department created the SAVE Plan so that young people and working families can climb the economic ladder without unaffordable student loan debt weighing them down,” U.S. Secretary of Education Miguel Cardona said in the release.
The nearly 5.5 million includes 1.8 million borrowers who hadn’t been on an income-driven repayment plan and 364,000 who switched from a different income-driven plan. Borrowers on the plan are paying about $300 billion in federal student loans, or about one-quarter of all direct loans in repayment, deferment or forbearance, according to the department.
Single borrowers earning less than $32,800 annually (or a family of four making less than $67,000) don’t have payments under the SAVE plan. It also ensures borrowers who keep up with monthly payments don’t see their balance grow because of unpaid interest.
The department also released data on borrowers enrolled in SAVE per congressional district.
In California’s Seventh Congressional District, which includes much of Sacramento County, 10,500 borrowers signed up for the plan — the most of any California congressional district. That was followed by the 30th and 23rd districts, with 9,900 and 9,800 borrowers enrolled, respectively.
Here’s the full breakdown:
CONGRESSIONAL DISTRICT | BORROWERS |
1 | 7,900 |
2 | 6,100 |
3 | 6,900 |
4 | 5,400 |
5 | 6,400 |
6 | 8,800 |
7 | 10,500 |
8 | 5,900 |
9 | 6,400 |
10 | 4,400 |
11 | 7,300 |
12 | 9,000 |
13 | 5,600 |
14 | 4,200 |
15 | 3,300 |
16 | 3,100 |
17 | 3,100 |
18 | 3,400 |
19 | 5,400 |
20 | 6,800 |
21 | 5,500 |
22 | 5,100 |
23 | 9,800 |
24 | 6,300 |
25 | 5,900 |
26 | 6,700 |
27 | 7,700 |
28 | 7,200 |
29 | 6,500 |
30 | 9,900 |
31 | 7,700 |
32 | 8,000 |
33 | 7,000 |
34 | 5,800 |
35 | 7,800 |
36 | 6,400 |
37 | 7,100 |
38 | 6,300 |
39 | 7,400 |
40 | 5,900 |
41 | 7,300 |
42 | 6,100 |
43 | 6,500 |
44 | 5,400 |
45 | 5,300 |
46 | 4,300 |
47 | 7,900 |
48 | 5,800 |
49 | 6,400 |
50 | 6,700 |
51 | 8,600 |
52 | 7,700 |
UNKNOWN | 132,300 |
TOTAL | 470,200 |
*Note: The unknown category includes zip codes that couldn’t be matched to a specific district.
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