I sat down with Under Secretary James Kvaal from the Department of Education to discuss everything you need to know about restarting your federal student loan payments in October of 2023.
We discussed:
– What you should be doing right now to prepare
– What you should do if you can’t make a payment
– How does the ON RAMP program work?
– What will happen to you if you’ve missed payments when the ON RAMP program ends next year?
– Why are monthly payments under the SAVE program higher than other Income Driven Repayment plans?
– How does the interest forgiveness work under the SAVE program?
– What about those with Parent Plus loans? What should they do?
– After the Supreme Court struck down President Biden’s original student loan forgiveness program, where do we stand with the NEW student loan forgiveness program he promised? What’s the latest?
More information about SAVE program here.
