By now, most student loan borrowers know that the Biden Administration's plan to forgive as much as $20,000 in federal student loan debt per borrower was rejected by the Supreme Court. However, the other parts of the administration's student loan relief plan are alive and well.

Most notably, the Saving on a Valuable Education (SAVE) plan is on track to join the income-driven repayment (IDR) plans available to borrowers, but this one isn't like the others. Secretary of Education Miguel Cardona recently called the SAVE Plan "the most affordable student loan repayment plan ever available," and that's putting it mildly.

Enrollment for the SAVE plan just opened. Here are five key points that all federal student loan borrowers need to know about the plan and how it works before payments restart in October.

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Source Fool.com