SAVE Plan Dissolved, April 1 Deadlines, and Growing IDR/PSLF Backlogs

This episode shares several student loan updates, led by a higher court directing a lower court to honor a settlement dissolving the SAVE plan, with no timeline yet for moving SAVE borrowers into other repayment options and speculation ranging from IBR to the standard plan. 

We also cover the importance of Parent PLUS borrowers potentially losing access to IDR and PSLF for new loans after July 1 , and why April 1 is the practical deadline for consolidating loans. 

A similar urgency applies to borrowers needing Direct Loans (not FFEL/Stafford) for PSLF or certain plans, with consolidation needed by June 30. 

The Department Of Education reports an IDR application backlog of over 560,000 and PSLF buyback backlog around 88,000.

Lastly we discuss private loans, and the potential impact of the Fed's likely refusal to continue lowering interest rates.

00:00 Save Plan Ends
01:15 Transition Uncertainty
02:30 Parent PLUS Deadline
04:55 Direct Loan Consolidation
06:02 IDR Backlog Update
07:59 PSLF Buyback Delays
09:30 IDR Forgiveness Restart
10:46 Refinancing Rate Outlook
12:03 Wrap Up Next Steps