If you are a student loan borrower, you can now apply for President Biden’s New Affordable Re-Payment Plan. The Education Department this week debuted an updated beta version of its income-driven repayment plan application on the Federal Student Aid (FSA) website that allows student loan borrowers to enroll in the Saving on a Valuable Education, or SAVE, plan.
The Income-Driven Repayment (IDR) plans are set to potentially provide a lower monthly payment based on your income and family size. Check out the link above on the Student Aid website to apply and learn more. If you have any questions about the new Repayment plan or preparing for your student loan repayment this fall, email us at info@shermanwealth.com and we are happy to analyze your situation and help!
