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SAVE - A New Income Driven Repayment Plan

A new Income Driven Repayment (IDR) plan is now available SAVE (Save A Valuable Education). SAVE is replacing REPAYE with those currently in REPAYE will automatically transition to SAVE. Here are some highlights of the SAVE plan:

  • Payment is 10% of Adjusted Gross Income (AGI) less an income exclusion

  • A 25-year repayment period

  • 100% interest subsidy on any interest accrual

  • Married couples that file separately can exclude spouse's income from the student loan payment calculation

I've created the following video analyzing the SAVE plan. Spending a few minutes watching the video could save you $$$!


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