# Plain Language Summary: Congressional Disapproval of Student Loan Repayment Rule

Congress is voting to reject a new rule from the Department of Education that would have changed how income-driven repayment plans work for federal student loans. Income-driven repayment plans let borrowers pay back their loans based on how much money they actually make, rather than a fixed amount. This particular rule was supposed to make these plans more generous—meaning lower monthly payments for many borrowers.

If this resolution passes, the new rule gets thrown out and won't take effect. That means borrowers won't get the payment reductions the Department of Education had planned to give them. Instead, the old rules stay in place. This affects millions of Americans with federal student loans who were counting on smaller monthly payments under the new system. The practical impact is that these borrowers would continue paying under the current income-driven repayment formulas rather than the improved ones the Department had proposed.

This is a high-stakes decision because student loan payments are a major expense for many households. Rejecting this rule means people struggling with loan debt won't get relief they were expecting. On the flip side, supporters of rejecting the rule argue it would have been too costly and generous. Either way, this vote determines whether millions of borrowers get breathing room on their monthly payments or continue under existing payment requirements.

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to "Improving Income Driven Repayment for the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan (FFEL) Program".

Cassidy, Bill

 <p>This joint resolution nullifies the final rule submitted by the Department of Education titled <i>Improving Income Driven Repayment for the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan (FFEL) Program</i> and published on July 10, 2023. The rule creates a new income-driven repayment plan called the Saving on a Valuable Education (SAVE) plan.</p>