The new SAVE income-driven repayment plan was intended to make borrowers' monthly payments cheaper. But many borrowers have faced errors with the plan and their payments are higher than what they can afford. "I do want to pay something, but I'm not able to pay that amount that they're requiring me to pay." When the Education Department officially rolled out the SAVE plan in August, it was coined as "the most affordable repayment plan yet." When she applied for the SAVE plan, she was told her monthly payment would be $125 a month, but when she got her billing statement, she was facing a $428 payment, according to documents reviewed by Insider.

---

Persons: —, Ann Currie, Currie, Joe Biden's, I'm, servicers, she's, Joanna Arbach, hasn't, Arbach, it's, They've Organizations: Service, Education Department, SAVE, Federal Student Aid Locations: Washington