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Do I get any benefit on the SAVE Plan of Student loan if my income will increase next year such that I won’t receive an interest subsidy?

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Abbey Johnson, Helping with Student Loan Documentation
Answered on October 02,2023

Yes, you still may get an interest subsidy this year which will lower the repayment amount this year, your effective interest rate will decrease, and credit towards forgiveness.

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Guide

Ultimate Guide on SAVE Plan - Payment Calculation, Interest, Forgiveness

Under the Saving on a Valuable Education (SAVE) plan, a single borrower who makes less than $15 an hour will not have to make any payments. Borrowers earning above that amount would save mor..
  Click here to get a detailed guide

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