Can Someone Explain What's Happening with SAVE Without Catastrophizing?

General
1

Good evening…

I’m really struggling to understand what’s going on with the SAVE plan and could really use some clear, realistic insights without all the doom and gloom. Everywhere I look, people are saying things like, “SAVE is dead. All the income-based repayment plans are going to get challenged and disappear. We’re all screwedI’ve seen posts saying it could take 3-5 years to sort this out. Does that mean I’ll be stuck in forbearance the whole time while interest piles up? Do we have to wait until everything’s resolved before any IDR applications get processed? Am I really going to have to wait 3-5 years without getting on any income-driven plan at all? If IDR plans go away, how are people supposed to pay their loans? I’m definitely not the only one who can’t afford payments without these plans. :unamused:
Please, someone, talk me down from this ledge. I really need some hope right now. Any straightforward, non-catastrophic explanations would be super appreciated.

Your help on this will save us…

2

SAVE is still in place despite several legal disputes and discussions around it Making sure the Department of Education is carrying out the plan in accordance with the right procedures has been the main priority. :thinking:

3

Hallo affected. Keep an eye on news and updates from the Department of Education and your loan servicer. :smiling_face_with_tear:

1 Like
4

If you’re unsure about whether SAVE is the best option for you, consider consulting with a financial advisor or student loan counselor. :wink:

5

Sorry mates :neutral_face:, but, While it’s natural to worry about potential changes, try to avoid focusing on worst-case scenarios.

6

Hear this people, :thinking: while there may be some uncertainties surrounding SAVE, it remains a valuable tool for many borrowers seeking to manage their student loan debt