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Federal Student Loan Rules Are Changing – Again 

They’re coming!  Take one final breath of fresh air before your federal student loan payments resume.  Finally.  In today’s episode, Corey and Rachelle chat about what to expect when payments resume and some of the additional changes to income-based repayment plans. 

Listen Here!

The final stretch: 

  • If all goes as planned, interest on student loans is resuming in September and payments are resuming in October. 
  • If you haven’t already, log into your student loan servicer’s website to verify your next payment due date and amount. 

REPAYE to become SAVE: 

  • If you are currently enrolled in Revised Paye as You Earn (REPAYE) you will now be enrolled in the Saving on a Valuable Education (SAVE) plan. 
  • The payment amount will still be 10% of your discretionary income, but discretionary income is determined using 225% of the federal poverty level instead of 150% as it was in the past. 
  • If your income-driven payment does not cover the interest, 100% of that accumulating interest is eliminated. 
  • You will be able to file separately from your spouse and only use your own income with SAVE.  With REPAYE, you had to use both incomes. 

Other changes this summer: 

  • IRS integration for income verification and family size which will mean automatic income recertification if you enroll. 
  • Redesigned and simplified application through Studentaid.gov. 

To hear more about the details of these changes and others, listen to the full episode.  To read more about the SAVE plan, read the Federal Student Aid announcement on the program here. 


For more financial planning tips from Corey and Rachelle, find them on social media! 
LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance  

Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.