How the SAVE Plan Changes the Student Loan Refinance Analysis
The newest federal repayment plan makes refinancing a bit more risky for borrowers.
The newest federal repayment plan makes refinancing a bit more risky for borrowers.
Automated yearly income certification will save IDR borrowers money and prevent mistakes with deadlines and timing issues.
Sticking to old assumuptions and strategies could mean that borrowers miss out on new opportunities to save money on federal student debt.
The new SAVE plan offers considerable savings for IBR, PAYE, and REPAYE borrowers, but care is necessary when enrolling.
A zero-dollar monthly payment may seem like a scam, but it is a legitimate option for some federal student loan borrowers.
Choosing the right federal repayment plan might seem overwhelming, but finding the best option usually isn’t very difficult.
All student loan payments are not created equal. If you make an extra payment toward your debt, make sure it goes as far as possible.
In most cases, waiting for the newest IDR repayment plan to be available is a mistake. Delays offer few advantages and come with significant disadvantages.
There is a lot to like about the proposed new IDR plan, but a closer inspection shows some room for improvement.