Are my private student loans eligible for the SAVE plan?

Related Questions

• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  Should I consider consolidating my federal student loans, which have varying interest rates ranging from 2.5% to 5.05%, now that the grace period is ending and interest rates are starting up again? I've also heard about different repayment plans on FAFSA, like the SAVE plan, but I'm not sure how they work. What would be the best approach for paying off my total student loan debt of $60,000, with $30,000 each from Federal and Private, considering my private loan interest rate is 5.64%?
  FAFSA is the Free Application for Federal Student Aid and it is the thing you fill out to get ...
  
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• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  How can I make sure my student loan repayment years count towards forgiveness with an undergrad FFELP consolidation loan and multiple grad school loans? I'm close to the 25-year requirement, but my income may be too high for IDR plans. Should I consider the SAVE plan for higher payments?
   Take the federal poverty level for your family size and multiply it by 2.25. Take whatever number you get ...
  
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• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  Why does the loan consolidation for my $98,000 in graduate loans under SAVE result in a total payment of $198,000 over 25 years, doubling the loan amount, despite my understanding that interest would be waived? Is there something I'm overlooking compared to PAYE and IBR plans, which calculate a total payment of $167,000?
  98000 at an example 6% interest, accrues approximately $490 a month in interest. If you pay $436, they waive ...
  
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• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  If my student loan repayment is $0 a month on the SAVE plan, am I still gonna get charged interest even if I’m following the “rules” of my plan and not paying anything?
  Interest resumed effective Sept. 1, 2023. Under the SAVE Plan, if you qualify for a $0 payment, interest is ...
  
  1 0 17
• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  Are there any tricks with the SAVE plan to optimize repayment of Student loan?
  There’s a trick utilizing money market accounts and high yield savings accounts when you’re receiving an interest to optimize ...
  
  1 0 2
• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  Do I still need to “make a payment” if my payment is $0 thanks to SAVE student loan plan?
  No, you don’t need to do anything.Set autopay to 0.
  
  1 0 2
• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  Would my student loans go down if I pay extra above the SAVE payment amount? Would the extra money in payment go directly to the principal?
  Yes, the extra payments would go toward principal.
  
  1 0 0
• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  In SAVE Plan, how many years before my student loans are forgiven?
  20 years for solely undergrad loans with initial balances above $22,000. 25 years for grad only loans or grad ...
  
  1 0 0
• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  Why does it say my student loans will be paid off in 2043 when I graduated in 2009? Shouldn't I be eligible for forgiveness sooner?
  Old IBR (not a new borrower after July 1, 2014) requires 300 payments. (New IBR is 240). ICR requires 300 ...
  
  1 0 2
• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  Do I qualify for the SAVE plan if I earn over 60k a year, and there's only information available for incomes up to 60k on the FAQs section of the SAVE plan website? Also, I have 23k left on loans.
  SAVE is best for people with a couple of kids and a modest family AGI. With 2 kids and ...
  
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• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  Why is my payback amount so much more in SAVE Plan than the IBR or PAYE plan on the studentaid.gov calculator?
  The repayment period is longer for grad loans (10 v 20 v 25 years). Most people only consider nominal ...
  
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• 
  Abbey Johnson
  

  Helping with Student Loan Documentation .
  Why am I still accruing interest on my loans while on the SAVE plan through AidVantage, even though I'm currently paying $0? Will my payments increase significantly after the next tax year due to my changed income?
  Log into your aidvantage account and click on the loan (not the + sign next to it). It will ...
  
  1 0 18
• 
  Robert James
  

  20+ years of experience in IRS matters .
  What steps should I take if I didn't file my taxes as a college student due to difficulties obtaining my W2 forms from my previous employers, who are now unresponsive to my attempts to contact them?
  If you can get your IRS Wage and Income transcript, you can use that to file your tax return. ...
  
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