In August 2023, the Biden Administration finalized the most affordable repayment plan ever created, the Saving on a Valuable Education (SAVE) Plan.
This new income-driven repayment plan could reduce your student loan bill to as low as $0 a month!
Other SAVE enrollees could save at least $1,000 per year in payments and will no longer see their balances grow due to unpaid interest.
Here’s how you can prepare and find out the best payment options for you:
You can find additional information and tips on preparing for payments to resume at Federal Student Aid’s website here.
SAVE on Student Debt is a partnership between the U.S. Department of Education, Civic Nation, UnidosUS, Rise, Student Debt Crisis Center, Young Invincibles, National Urban League and the NAACP.
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