A number of changes to student loans have occurred in recent months. Here is an overview of those changes and information about how to learn more.

REPAYE Is Now SAVE

The student loan repayment plan called REPAYE is being rebranded as SAVE. SAVE has the following features for grad student debt repayments.

• Monthly payments under SAVE will be smaller than similar income would have calculated by REPAYE
• SAVE allows for married filing taxes separately to have their payment based on the borrower’s income only and not the spouse’ income. REPAYE always included the spouse’ income.
• All unpaid interest each month with SAVE is not charged to the borrower. Under REPAYE only half was not charged to the borrower.

Learn more about the SAVE program.

Need Help?

The Office of Financial Planning can assist you with questions about your student loans or any other aspect of personal finance. Please contact Michael R. Clancy, MBA, CFP, CLU, director of financial planning, at mrc324@drexel.edu or 215.991.8595. If you would like to schedule an appointment, use the schedule link. Click on either the Consultation box or the West Reading Campus options to view available appointments.