SAVE Borrowers Encouraged to Move to IBR Even Though Forgiveness Options Are Paused. Here's What's Going On

The article discusses the recent pause on student loan forgiveness options under the Student Aid Enforcement (SAVE) program. The Department of Education has encouraged borrowers to switch to the Income-Based Repayment (IBR) plan, even though SAVE forgiveness options are currently on hold. The article explains that the pause on SAVE forgiveness is temporary, and the Department of Education assures borrowers that the program will resume at a later date. In the meantime, the Department recommends that borrowers enroll in the IBR plan, which offers income-based repayment options and the potential for loan forgiveness after a certain number of payments. The article also notes that the pause on SAVE forgiveness does not affect other federal student loan forgiveness programs, such as the Public Service Loan Forgiveness (PSLF) program. Borrowers are encouraged to explore all available options and stay informed about any updates or changes to student loan policies.