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Does it ever make sense to take a lower paying job so that I pay less in SAVE Plan of Student loan?
Does it ever make sense to take a lower paying job so that I pay less in SAVE Plan of Student loan?
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Abbey Johnson, Helping with Student Loan DocumentationAnswered on October 02,2023
No, since you only pay 10% of each additional dollar your earn, you'd receive an additional 90% of each dollar you earn minus taxes, so at least 40% even if you live in California and are in the 37% tax bracket federally.
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Ultimate Guide on SAVE Plan - Payment Calculation, Interest, Forgiveness
Under the Saving on a Valuable Education (SAVE) plan, a single borrower who makes less than $15 an hour will not have to make any payments. Borrowers earning above that amount would save mor..Click here to get a detailed guide
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