Home |SAVE Plan |
When the planned maintenance of FAFSA form will be completed and full access will resume on the website?
When the planned maintenance of FAFSA form will be completed and full access will resume on the website?
Abbey Johnson, Helping with Student Loan Documentation
Answered on September 29,2023
Answered on September 29,2023
The FAFSA form will be unavailable due to scheduled maintenance every Sunday from 3–11 a.m. Eastern time.
Guide
  Click here to get a detailed guide
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
Related Questions
-
Abbey Johnson
Helping with Student Loan Documentation .When I filled out this year's application, it clearly stated I can only apply for IBR. Now, I have read that for starting balances of less than 12k with 120 payments; the balance of loan will be forgiven. To accomplish forgiveness, I will have to consolidate and apply for repaye/save before 12/31/23? Loans are FFEL at the moment and I have been on an IBR for years
FFEL loans don't qualify for SAVE, the only income-driven repayment plan they can go on is IBR If they are ...
1 0 0 -
Abbey Johnson
Helping with Student Loan Documentation .Do I currently have $0 payments on my PAYE plan until my IDR Plan Renewal Date on July 24, based on the information provided on the Mohela website? Should I proceed with applying for the SAVE plan, or is it better to wait until after that date?
Your PAYE payment would be based off your income from the last time you recertified pre-covid. If your income ...
1 0 1 -
Abbey Johnson
Helping with Student Loan Documentation .Do I qualify for the SAVE plan if I earn over 60k a year, and there's only information available for incomes up to 60k on the FAQs section of the SAVE plan website? Also, I have 23k left on loans.
SAVE is best for people with a couple of kids and a modest family AGI. With 2 kids and ...
1 0 4 -
Abbey Johnson
Helping with Student Loan Documentation .How can I make sure my student loan repayment years count towards forgiveness with an undergrad FFELP consolidation loan and multiple grad school loans? I'm close to the 25-year requirement, but my income may be too high for IDR plans. Should I consider the SAVE plan for higher payments?
Take the federal poverty level for your family size and multiply it by 2.25. Take whatever number you get ...
1 0 6 -
Abbey Johnson
Helping with Student Loan Documentation .Do I still need to “make a payment” if my payment is $0 thanks to SAVE student loan plan?
No, you don’t need to do anything.Set autopay to 0.
1 0 3 -
Abbey Johnson
Helping with Student Loan Documentation .Why am I still accruing interest on my loans while on the SAVE plan through AidVantage, even though I'm currently paying $0? Will my payments increase significantly after the next tax year due to my changed income?
Log into your aidvantage account and click on the loan (not the + sign next to it). It will ...
1 0 19 -
Abbey Johnson
Helping with Student Loan Documentation .Can I still qualify for $0 monthly payments on the SAVE Plan as a married stay-at-home mom if we filed taxes jointly?
When you apply for an IDR plan they need your discretionary income. Discretionary income is defined in this case ...
1 0 1 -
Abbey Johnson
Helping with Student Loan Documentation .Does it ever make sense to take a lower paying job so that I pay less in SAVE Plan of Student loan?
No, since you only pay 10% of each additional dollar your earn, you'd receive an additional 90% of each ...
1 0 0 -
Abbey Johnson
Helping with Student Loan Documentation .Are there any tricks with the SAVE plan to optimize repayment of Student loan?
There’s a trick utilizing money market accounts and high yield savings accounts when you’re receiving an interest to optimize ...
1 0 2 -
Abbey Johnson
Helping with Student Loan Documentation .How can I get on the SAVE plan when I’m in the grace period after graduation?
You can consolidate your student loans to be able to enter repayment faster. This cannot be reversed so you ...
1 0 1 -
Abbey Johnson
Helping with Student Loan Documentation .Are my private student loans eligible for the SAVE plan?
No, only federal loans.
1 0 0 -
Abbey Johnson
Helping with Student Loan Documentation .Can I switch back to another plan while in Save plan of Student loan?
Yes, you can switch to the standard 10-year plan or other plans available at that time. However, the PAYE ...
1 0 6