HomeNewsHow much are your monthly student loan payments?

How much are your monthly student loan payments?


JACKSONVILLE, Fla. – Millions of student loan borrowers could see some relief under a new forgiveness plan.

The Biden Administration’s “SAVE” program is an income-driven repayment plan, and 20 million borrowers could benefit from the plan.

The years-long pandemic pause on student loan payments resumes in October. But if you apply early enough – you might not have to make a payment this fall.

Borrowers could cut their monthly payments in half or even have monthly payments of $0.

Starting this summer, if you’re making $32,800 per year or less, roughly $15 per hour or less, you will qualify for $0 payments. Those who earn more could see their payments reduced by at least $1,000 per year compared to other IDR plans, according to the Education Department.

You can apply for SAVE here.

We want to know: How much are your monthly student loan payments? Will this program benefit you?

Tell us, how much are your monthly student loan payments? Will this program benefit you? (News4JAX)

Copyright 2023 by WJXT News4JAX – All rights reserved.

Post source: News 4jax





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