logo
welcome
SmartAsset

SmartAsset

What Is the Saving on a Valuable Education Plan (SAVE)?

SmartAsset
Summary
Nutrition label

85% Informative

The Saving on a Valuable Education ( SAVE ) Plan is an income-driven student debt repayment plan.

It replaced a similar plan called REPAYE .

The SAVE Plan offers more generous terms than other student loan payment plans.

It raises the minimum applicable income and helps cover interest, which can accumulate quickly.

SAVE 's repayment terms are more generous than other income-driven repayment plans.

SAVE exempts more income than the Department of Education 's other plans.

Other plans, such as IBR and ICR , typically only offer forgiveness after 20 years of repayment or more.

VR Score

85

Informative language

83

Neutral language

71

Article tone

semi-formal

Language

English

Language complexity

44

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

long-living

Affiliate links

no affiliate links