REPAYE

4 Ways to Save for Retirement AND Eliminate Student Loan Debt

Some advanced student loan repayment strategies allow borrowers to eliminate student debt and contribute to retirement accounts like a 401(k) or IRA.

The SAVE interest subsidy makes it the best repayment plan for borrowers struggling to keep up with their federal student loans.

The new SAVE plan will offer the lowest monthly payment for the vast majority of borrowers.

The newly announced SAVE plan will eliminate or change most of the income-driven repayment plans currently available.

There are many different federal repayment plans and each option comes with unique advantages and disadvantages.

Many borrowers worry that changing income-driven repayment plans will result in starting from scratch on the path to student loan forgiveness.

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.