evidence: This issue brief examines the factors that precipitated the current student debt landscape, and details how both SDR and SAVE will enhance the economic status of millions of Americans with student debt: enabling them to allocate more funds towards basic necessities, take career risks, start businesses, and purchase homes. This brief highlights credible research, underscoring how the Administration’s student debt relief could boost consumption in the short-term by billions of dollars and could have important impacts on borrower mental health, financial security, and outcomes such as homeownership and entrepreneurship. This brief also details how the SAVE plan makes repaying college costs more affordable for current borrowers and future generations. CEA simulations show that, under SAVE, an average borrower with a bachelor’s degree could save $20,000 in loan payments, while a borrower with an associate degree could see nearly 90 percent savings compared to the standard loan repayment plan. These changes enable more people to pursue education and contribute to the broader economy.