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Official communication from the ED on the SAVE transition timeline

/r/StudentLoans: Reddit's hub for advice, articles, and discussion about educational loans·/u/Betsy514·about 1 month ago
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There's been a lot of articles posted etc - but here's the official word from the ED https://www.ed.gov/about/news/press-release/us-department-of-education-announces-next-steps-borrowers-enrolled-unlawful-save-plan In summary, you'll start getting notices from your servicers as soon as the next few days telling you that this is happening. Come July 1 you'll get a notice giving you 90 days to switch. If you don't, they put you on the standard plan. The ten year standard if you haven't' consolidated - the consolidated standard plan if you have - which is longer than ten years. I want to address a couple of themes i've been seeing in these threads. My comments here are probably going to get me downvoted to oblivion. That's ok - I'm not here for the karma - I'm here to make sure folks understand their loans and make the best decisions for their long term financial well being. Because that's my goal - sometimes I have to say thing folks don't want to hear.…

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