Question - last time I heard they are not currently processing any applications for income driven repayment plans because of the SAVE lawsuit. Do you know if this has changed? I’ve been waiting for almost a year to get my application process
Hi! I applied for the SAVE program which yeah looks like it won’t be happening buuuuut my loans have been in administrative forbearance while the courts figure it out. I have seen on Reddit some folks saying they’re gonna just wait and see what happens, right now I’m looking at next payment due in August under the same amount my previous IDR is at. Any thoughts on whether I should just let the courts take officially dead the SAVE plan to have a few more months? Was thinking about reapply for a different IDR but was anxious it would somehow take me out of this forbearance grace period
Take this with a grain of salt because I don't know your full financial picture & goals ~~
For anyone under the SAVE forbearance plan, I would recommend staying on forbearance for now. Between now and August, practice making payments by transferring what you might owe into a savings account. Your game plan would be to see how your lifestyle adjusts and build a little safety net *before* payments come back officially in the fall.
The only exception here is people who need to make payments under a qualifying payment plan for PSLF.
Question - last time I heard they are not currently processing any applications for income driven repayment plans because of the SAVE lawsuit. Do you know if this has changed? I’ve been waiting for almost a year to get my application process
Ok awesome ! Thanks Leo! Hopefully mine will get processed soon 🤞🤞
you're welcome!! good luck!
Hi Christine! I believe this has changed. Check this page out: https://studentaid.gov/announcements-events/idr-court-actions
Under the bullet points, it says "IDR plan applications are available. Servicers have begun processing applications."
Hi! I applied for the SAVE program which yeah looks like it won’t be happening buuuuut my loans have been in administrative forbearance while the courts figure it out. I have seen on Reddit some folks saying they’re gonna just wait and see what happens, right now I’m looking at next payment due in August under the same amount my previous IDR is at. Any thoughts on whether I should just let the courts take officially dead the SAVE plan to have a few more months? Was thinking about reapply for a different IDR but was anxious it would somehow take me out of this forbearance grace period
Hi Meg!
Take this with a grain of salt because I don't know your full financial picture & goals ~~
For anyone under the SAVE forbearance plan, I would recommend staying on forbearance for now. Between now and August, practice making payments by transferring what you might owe into a savings account. Your game plan would be to see how your lifestyle adjusts and build a little safety net *before* payments come back officially in the fall.
The only exception here is people who need to make payments under a qualifying payment plan for PSLF.