FILE – Wheaton College students stop to chat on the Norton, Mass. campus, Feb. 13, 2024 as snow falls. NEW YORK —
“We don’t want our loans dictating our life choices, and us not being able to do other things because we’re paying so much money. The SAVE plan is definitely a game changer for us,” said Michael, a 34-year-old interior designer in Raleigh, North Carolina. Also, the SAVE plan prevents interest from piling up. As long as borrowers make their monthly payments, their overall balance won’t increase. Once they cover their adjusted monthly payment — even if it’s $0 — any remaining interest is waived.
Borrowers should make sure they’re signed up for the best possible income-driven repayment plan to qualify for these programs.
Source: Education Headlines (educationheadlines.net)
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