Many borrowers currently struggling with student loan payments would benefit from enrolling in an income-driven repayment plan, according to a recent Student Debt Crisis Center survey.Roughly three out of four borrowers who make $75,000 or less annually and would benefit from the SAVE plan are not currently enrolled in the plan, the survey said.
"I regularly hear from borrowers that they are experiencing inaccurate information or none at all from their loan servicers," SDCC Managing Director Sabrina Calazans said. "As a student loan borrower myself, I know firsthand how frustrating and harmful these communication errors can be. Borrowers need more communications coming directly from the Department of Education, given their lack of trust in their respective service providers.