The Savings Opportunity and Affordable Repayment Act seeks to reform the Higher Education Act of 1965 by introducing a new income-contingent repayment plan for federal student loans. This initiative aims to ease the financial burden on borrowers by aligning their monthly payments with their income levels, making repayment more manageable. Central to the act is the Savings Opportunity and Affordable Repayment plan, which will be implemented 180 days after the law is enacted. Under this plan, borrowers with incomes below 250 percent of the poverty line will not have to make any payments.