The SAVE plan exempts more of a borrower's income from the monthly payment than previous plans. Unlike past IDR plans, there is no eligibility income limit, and it works for many types of loans.
In July, borrowers with loans from their undergraduate education will see their payments cut in half. Monthly payments will drop from 10% to 5% of discretionary income.
#student-loans #federal-government-forgiveness #income-driven-repayment-plans #save-plan #monthly-payment-reductions
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