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Education Department (government education agency) announces deal to end Saving on a Valuable Education (SAVE) student loan repayment plan

According to the Education Department (government education agency), guidance is provided on selecting a new repayment plan or transitioning to another income-based plan after the Saving on a Valuable Education (SAVE) program ends.

Summary

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Terms & Concepts
  • Saving on a Valuable Education (SAVE) plan: A student loan repayment program referenced as ending under the announced deal.
  • Income-based repayment plan: A repayment option where monthly payments are set according to a borrower’s income.