Jill On Money: Student loan repayment begins anew

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If you haven’t made repayment arrangements yet, it’s time to act Now

After more than three years of COVID-related reprieves, Sunday ushered in the resumption of federal student loan epayments. For those who have paid off student loans a long time ago, it may be hard to conjure up empathy, but please try to hold back on your judgment, so we can encourage tens of millions of borrowers to get back on track.Although most borrowers have been preparing for this moment, there are still those who need to act right now.

SAVE also treats interest differently. If your regular payment isn’t enough to cover the interest owed at that time, the unpaid interest is automatically erased. Additionally, single borrowers who earn less than $15 per hour will not have to make ANY payments. If you previously enrolled in the REPAYE IDR plan, you will be automatically enrolled in the SAVE plan.

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