Those in new income-driven repayment plan can benefit from interest subsidies in first year and beyond
Article By: Brian Denten & Ilan Levine Read time:
Projects: Student Loans
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Student Loan Borrowers Who Repay With SAVE Can Prevent Balance Growth
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Article
Projects: Student Loans
Topics: Family Finances, Higher Education & U.S. Policy
Experts: Travis Plunkett
Places: United States
AUTHORS
Brian Denten Officer
Student Loan Initiative
Ilan Levine Senior Associate
Student Loan Initiative
ArticleNovember 6, 2023
Income-Driven Plans Make Student Payments Affordable
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ArticleNovember 6, 2023
Student loan payments resumed this October, but repayment will not look the same as it did before the pause put in place in response to the pandemic. Borrowers will have access to a new income-driven repayment (IDR) plan—known as Saving on a Valuable Education (SAVE)—that will lower payments for most and prevent balances from growing.
ArticleDecember 12, 2023
Students Are Concerned About Loans After Pandemic Pause
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ArticleDecember 12, 2023
After a more than three-year pause because of the COVID-19 pandemic, payments on federal student loans resumed in October, a reality forcing many borrowers to refocus on how they will keep up with repayment. A survey conducted for The Pew Charitable Trusts last fall reflected borrower concerns about affording their payments—and how the stop-and-go path to the recent restart would unfold. Many, in fact, seemed confused and unprepared for what would come next.
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