July 27, 2023

Comparing Income-Driven Repayment Plans: SAVE vs. REPAYE

Financial Education

The newest income-driven repayment (IDR) plan — Saving on a Valuable Education (SAVE) plan — modifies and replaces the existing Revised Pay as You Earn (REPAYE) plan to meaningfully lower monthly payments and overall loan balances for most student loan borrowers. The goal of the new SAVE plan is to better assist low-income borrowers and provide more flexibility toward student debt forgiveness.

AccessLex Institute® presents a comparison of the plans with the infographic shown below (Download Infographic) and full report (Download Full IDR PDF).

Income-Driven Repayment Plan infographic