PAYE is Ending: What You Need to Know Now
Episode description
One of the most beneficial income-driven repayment (IDR) plans will be discontinued on July 1, 2024. Why haven’t you heard about Pay As You Earn (PAYE) going away? Because it’s not mentioned on StudentAid.gov (as of the date of this podcast), and borrowers have told us they’re getting mixed messages from their servicers.
PAYE’s discontinuation was buried in the Federal Register, a massive legal document, and it’s a huge change for some borrowers. Angie Pack, CSLP®, and Ben Lacomis, CSLP®, unpack what this change means for you.
In today’s 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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