PAYE is Ending: What You Need to Know Now
One of the most beneficial income-driven repayment (IDR) plans will be discontinued on July 1, 2024. Why haven\u2019t you heard about Pay As You Earn (PAYE) going away? Because it\u2019s not mentioned on StudentAid.gov (as of the date of this podcast), and borrowers have told us they\u2019re getting mixed messages from their servicers.
PAYE\u2019s discontinuation was buried in the Federal Register, a massive legal document, and it\u2019s a huge change for some borrowers. Angie Pack, CSLP\xae, and Ben Lacomis, CSLP\xae, unpack what this change means for you.
In today\u2019s episode:
05:35 Deciding if PAYE is right for you
16:11 When the new Saving on a Valuable Education (SAVE) plan wins
22:12 PAYE tips for dentists and physicians
44:41 Enrollment deadline is uncertain for PAYE
49:39 How your income shapes the best repayment plan
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