1. The SAVE Plan (Saving on A Valuable Education) is a federal income-driven repayment plan designed to make student loan payments more affordable.

2. It calculates monthly payments based on a borrower’s income and family size rather than the total loan balance.

3Under the SAVE Plan, many borrowers pay $0 per month if their income is below a certain threshold.

4.The plan prevents unpaid monthly interest from growing, so loan balances do not increase even when payments are low.

5. Undergraduate loan borrowers under the SAVE Plan may pay as little as 5% of their discretionary income, which is lower than earlier plans.

6. Borrowers with both undergraduate and graduate loans receive a weighted payment percentage based on their loan mix.

7. The SAVE Plan offers faster forgiveness for borrowers with smaller loan balances, sometimes in as little as 10 years.

8 .It automatically enrolls many borrowers who were previously in the REPAYE plan, making the transition simpler.

9 The SAVE Plan is especially helpful for low- and middle-income borrowers who need long-term payment relief.

10. Borrowers can apply for the SAVE Plan through the official Federal Student Aid website using their FSA ID.