Jan 15, 2025 · Earlier this year, a federal court prevented the U.S. Department of Education (ED) from implementing parts of the Saving on a Valuable Education (SAVE) Plan and other income-driven repayment (IDR) plans.

18 hours ago · Student loan borrowers who expected smaller monthly payments under the new Saving on a Valuable Education, or SAVE, plan received some bad news on Feb. 18, when a U.S. appeals court blocked the ...

The Saving on a Valuable Education (SAVE) plan (formerly the REPAYE program) provides the lowest monthly payment amount of any Income-Driven Repayment (IDR) plan available to most borrowers. The SAVE plan differs from other IDR plans in several ways, including:

2 days ago · The SAVE plan is still in existence officially, and borrowers in the SAVE plan will remain in forbearance until the Department of Education finalizes new rules. Also, proposals in Congress are ...

3 days ago · Still, some student-loan borrowers previously told BI that the SAVE plan was a significant financial relief for them and that they weren't sure how they'd afford higher payments without the plan ...

With the Saving on a Valuable Education (SAVE) Plan, families and individual borrowers with low or middle incomes will typically have lower monthly payments compared to other IDR plans. You can apply for the SAVE Plan now. This new IDR plan replaced the Revised Pay As You Earn (REPAYE) Plan.

Oct 11, 2024 · For two months now, borrowers in the SAVE plan have been in a forced forbearance due to a nationwide injunction. The SAVE plan is a new IDR plan, launched last year, that reduces monthly...

Jan 6, 2025 · Millions of borrowers who had sought lower payments and eventual student loan forgiveness under the program remain stuck due to legal challenges, and the future of SAVE is now in serious doubt....

The SAVE plan will cut payments on undergraduate loans in half compared to other IDR plans, ensure that borrowers never see their balance grow as long as they keep up with their required payments, and protect more of a borrower’s income for basic needs.

The Saving on a Valuable Education (SAVE) Plan is the newest income-driven repayment (IDR) plan. Like other IDR plans, the SAVE Plan calculates your monthly payment amount based on your income and family size.