Alabama has had 82,700 people who have enrolled in President Biden’s new Saving On a Valuable Education (SAVE) student loan plan, according to a Wednesday press conference with White House officials to unveil congressional district numbers.

The income-driven plan, introduced in July, calculates loan payments based on the borrower’s income and family size instead of the loan balance. Highlights from the plan include:

• Putting a pause on payments if you’re a single borrower earning $32,800 a year or less or a family of four earning $67,000 a year or less.
• Making regular monthly payments will reduce additional unpaid interest. That means if $70 of interest accrues on your balance each month, but your payment is set at $50, you will not be charged the remaining $20.

About 5.5 million loan borrowers nationwide enrolled in SAVE. To enroll in the plan, go to StudentAid.gov/SAVE.