The Biden-Harris Administration has introduced a new student loan repayment plan to tackle student debt, and it’s a WINNER. Continue reading to learn more!
anxiety authors betterlife blackhistory book boss Breezideezi business career cash college confidence debt development earnmoneyonline earnonline encourage entrepreneur entrepreneurship fear forgiveness growth help loan loanforgiveness makemoneyonline mentalhealth money motivation onlineincome onlineincometips persistence personaldevelopment philosophy poem poetry quote school sidehustle sidehustlesaturday sidehustlesaturdays strength studentdebt studentloans supremecourt
The SAVE Repayment plan
- The Saving on a Valuable Education (SAVE) Plan replaces the existing Revised Pay As You Earn (REPAYE) Plan.
- Borrowers on the REPAYE Plan will automatically get the benefits of the new SAVE Plan. The SAVE Plan, like other income-driven repayment (IDR) plans, calculates your monthly payment amount based on your income and family size.
- The SAVE Plan provides the lowest monthly payments of any Income Driver Repayment plan available to nearly all student borrowers.
The Amazing Benefits
- You will not owe loan payments if you are a single borrower earning $32,800 or less or a family of four earning $67,500 or less !
- Say goodbye to interest: If you make your monthly payment, your loan balance won’t grow due to unpaid interest.
- Borrowers who are 75 days late will be automatically enrolled in SAVE if they have agreed to allow the Department of Education to securely access their tax information. If you apply for an IDR plan now and select the REPAYE Plan, you will automatically be put on the SAVE Plan once it becomes available.
So, what do you think? I love this plan, and I can already see an insurmountable amount of long and short-term savings for myself. Thanks, JOE… I still have my eyes on your administration, though!
anxiety authors betterlife blackhistory book boss Breezideezi business career cash college confidence debt development earnmoneyonline earnonline encourage entrepreneur entrepreneurship fear forgiveness growth help loan loanforgiveness makemoneyonline mentalhealth money motivation onlineincome onlineincometips persistence personaldevelopment philosophy poem poetry quote school sidehustle sidehustlesaturday sidehustlesaturdays strength studentdebt studentloans supremecourt
Loading…
Something went wrong. Please refresh the page and/or try again.
Discuss!