New Income-Driven Repayment Plan Alert: What the SAVE Plan Means for Your Student Loans 💰

On Feb. 18, 2025, a federal court issued a new injunction preventing the U.S. Department of Education from implementing the Saving on a Valuable Education (SAVE) Plan and parts of other income-driven repayment (IDR) plans. We will continue to update https://StudentAid.gov/courtactions with more information.

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The Saving on a Valuable Education (SAVE) Plan is the newest income-driven repayment (IDR) plan. Like other IDR plans, the SAVE Plan calculates your monthly payment amount based on your income and family size. In addition, the SAVE Plan has unique benefits that will lower payments for many borrowers.

00:00 - Intro
00:46 - Lower payments with the SAVE Plan
01:29 - How are loan payments applied?
01:41 - Interest subsidy for repayment
02:20 - Interest subsidy for a $0 monthly payment
02:38 - Interest subsidy example
03:04 - Benefits coming in 2024

Watch the full playlist: https://www.youtube.com/playlist?list=PL5C43A3FD801FDF45