The US Department of Education just announced that everyone enrolled in the SAVE plan will have their student loans paused in a zero-interest forbearance for at least six months as the extreme right wing assault on student debt relief plays out in the courts.
The SAVE application is back online. If you are not currently enrolled in SAVE—and want to keep your payments paused—you may want to consider applying for Income-Driven Repayment and choosing the SAVE plan: https://studentaid.gov/idr/
The SAVE plan is by no means a solution to the student debt crisis—and we have many critiques for it as a plan. But for debtors desperate to avoid payments for even just the next few months, applying for SAVE to have your payments paused might be an option that works for you.
NOTE: Months spent in zero-interest SAVE forbearance are not being counted towards PSLF or IDR.
Sign our petition to pause all student loans and have the pause count towards PSLF/IDR.
If you are a few months away from getting full cancellation through PSLF, it might be in your best interest to enroll in a different payment plan and make those few monthly payments until you get full cancellation. You can also explore the complicated “buy back” program. More information on both here.
