(Washington, D.C.) – The United States Department of Education announced that more than 4 million student loan borrowers have enrolled in the Saving on A Valuable Education (SAVE) income-driven repayment plan.
Under the SAVE plan borrowers who makes less than $15 an hour will not have to make any payments and borrows earning above that amount save over $1,000 a year on their payments compared to other income-driven repayment plans. The SAVE Plan also ensures that borrowers never see their balance grow due to unpaid interest as long as they keep up with their payments.
For more information about SAVE visit StudentAid.gov/save
