In SAVE Plan, how many years before my student loans are forgiven?
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Abbey Johnson, Helping with Student Loan DocumentationAnswered on October 02,2023
20 years for solely undergrad loans with initial balances above $22,000. 25 years for grad only loans or grad undergrad mix with an initial balance above $27,000. 10 years plus 1 year for every $1000 above $12,000 initial loan balance. For example, if your initial loan balance is $18,000, your loans would be forgiven after 16 years of repayment.
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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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