The Saving on a Valuable Education (SAVE) plan can have several benefits for student loan borrowers, including:

• Lower Monthly Payments
• SAVE plans base monthly payments on income and family size, so some borrowers may qualify for $0 payments. For example, undergraduate borrowers may see their payments reduced from 10% to 5% of their discretionary income.
• Interest Subsidy
• If a borrower makes their full monthly payment but it doesn't cover the interest, the government will cover the remaining interest. This prevents the balance from growing due to unpaid interest.
• Loan Forgiveness
• SAVE plans can lead to significant loan forgiveness, especially for borrowers with low incomes, high debt-to-earnings ratios, or sub-baccalaureate loans. For example, borrowers who originally borrowed $12,000 or less may be eligible for forgiveness after 10 years.

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