To apply for the SAVE student loan repayment plan, follow these steps:
- Log in to your StudentAid.gov account
You need to have an account on StudentAid.gov. If you don’t have one, create it at StudentAid.gov/create-account
- Submit an Income-Driven Repayment Plan Request
Once logged in, submit a request to enroll in the SAVE Plan by providing your financial information. You can either consent to let the Department of Education access your federal tax information or manually enter your income details
- Wait for approval
After submitting your application, it must be approved by the Department of Education. Due to the plan’s popularity, approval can take several months. During this time, your loan account may be placed in forbearance, meaning your payments could be temporarily suspended
- Check loan eligibility
The SAVE Plan only applies to certain federal student loans. If your loans are not eligible, you may need to consolidate them before applying
- Additional notes
- Borrowers on the previous REPAYE plan were automatically switched to the SAVE Plan
* Private loans and Parent PLUS loans are not eligible for SAVE
For detailed information and to start your application, visit StudentAid.gov and log in to your account to submit the income-driven repayment plan request for SAVE
