The SAVE plan has become a hot topic for many borrowers, and we’re getting a lot of questions. I will answer the top questions we see, including what it is and when you need to sign up for it. I’ll cover important deadlines and major red flags you need to know about student loans. You’ll learn how the SAVE plan can impact your loans, why it might not be the best option for every borrower, and what to do if you’re unsure about your repayment strategy.
In today’s episode, you'll find out:
- The pros and cons of the SAVE plan and why it isn’t the right fit for everyone
- When to choose PAYE over SAVE for a more cost-effective repayment option
- Final dates for taking advantage of the IDR account adjustment
- Deadlines for signing up for PAYE and ICR repayment plans
- If the SAVE plan is better than the new REPAYE plan people have been talking about
- Why our student loan advice for 2023 is still valid in light of the new SAVE plan
- When and how to apply for the SAVE plan
- What Parent PLUS borrowers need to know about consolidations and access to the SAVE plan
- The real reason why higher education is so expensive
- Upcoming consultation openings in October
- More information on SLP Wealth and tax services
Links mentioned:
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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!
