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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:
It’s free and takes 10 minutes or less to sign up and enroll in an affordable repayment plan, such as the SAVE Plan, with payments as low as $0 a month. How much will I pay each month? The SAVE Plan calculates your monthly payment based on your income and family size.
24 Οκτ 2024 · Borrowers in SAVE and anyone who has applied for SAVE should expect to remain in interest-free general forbearance for six more months or longer, pending further developments from the 8th Circuit Court of Appeals. While in forbearance, you do not have to make monthly payments on your student loans.
1 Οκτ 2007 · This student loan calculator compares the SAVE plan to other income-driven repayment plans, such as new and old IBR, PAYE, and refinancing. It's updated with the latest 2024 federal poverty line numbers.
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Your total principal balance, income level, and loan type will determine whether the SAVE Plan is your best option. To view your loan (s) and your loan type (s), log in to StudentAid.gov and go to your My Aid page. Your loans will tell you which repayment plan you are enrolled in.