Student loan interest for millions resumes on Aug. 1. Here's what to know.
Student loan interest for millions resumes on Aug. 1. Here's what to know.
Millions of borrowers in forbearance through the SAVE plan will see interest start accruing on Friday. Here’s what to know.
Read the full article on CBS Money
Truth Analysis
Analysis Summary:
The article contains significant factual errors, primarily regarding the administration under which interest resumes. It exhibits moderate bias by framing the resumption of interest as a negative event without providing sufficient counterarguments or context.
Detailed Analysis:
- Claim: Millions of borrowers in forbearance through the SAVE plan will see interest start accruing on Friday (August 1).
- Verification Source #1: Implies interest accrues on August 1 for loans in forbearance.
- Verification Source #2: States the Trump administration will begin charging interest on August 1.
- Verification Source #3: Confirms interest will begin to accrue on August 1.
- Verification Source #4: Confirms SAVE plans resume interest Aug. 1.
- Verification Source #5: Confirms interest collection will resume on Aug. 1 for those in the SAVE plan.
- Assessment: Mostly supported, but the attribution to the correct administration is incorrect. The date is correct, but Source 2 incorrectly attributes the policy to the Trump administration.
Supporting Evidence/Contradictions:
- Source 2: “The Trump administration will begin charging interest on the loans starting Aug. 1…” This is a factual error as the SAVE plan is associated with the Biden administration (Source 5).