I am currently unemployed and still not having much success with new employment.

I am currently debating whether to enroll my student loans into the "SAVE Plan" before it becomes too late to enroll but I don't want to create a bigger balance (the longer I wait to make a decision my loans are accumulate daily interest that turns into a monthly interest and I am already an involuntary additional $3,000.)

Any helpful information or suggestions it is appreciated and welcomed at this time.


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Just sign up for income based repayment and ask for the lowest payment, if that is SAVE (likley) it will set it up for you. You can always pay more than the payment each month, if you want/are able.

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Why haven’t you been enrolled in SAVE from the beginning.

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Yes, I applied for SAVE And my appts. Were zero. But I am inline for PSLF — I have reached my 120 payments and I am just waiting for the DOE to take this program back from Mohela and pray it all goes as it should!

There is no downside to enrolling in an IDR so yes. This is a silly question.

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Enroll in SAVE! Make the minimum payment, the govt picks up the rest of the interest. Your balance won’t go down but it won’t go up either.

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Definitely enroll in the SAVE plan since you can still pay more than the required amount each month. That way if you have a rough month with some unexpected stuff coming up you won't have a really high required payment to make.

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I agree with the comment above. It doesn't hurt to enroll in the SAVE plan and then pay what you can over the required amount every month. That is what i have been doing and it has worked out pretty well fo rme.

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