As of March 26, 2024, The Department of Education has re-opened the option to enroll in an Income-Driven Repayment plan or recertify their current plan. Loan servicers will begin processing applications soon, however we do not have an exact date as of yet. You can read more about these updates here: https://bysavi.zendesk.com/hc/en-us/articles/39066156076179-IDR-Application-Updates
As of February 27th, 2025, The Department of Education has temporarily removed the option to enroll in an Income-Driven Repayment (IDR) Plan, or recertify their current plan, from the StudentAid.gov website. Because of this, borrowers applying for an IDR should expect significantly longer processing times. Savi is working to determine exactly how this decision will impact borrowers, and we'll provide more updates as soon as they're available and an official announcement is made.
You are still encouraged to submit your IDR application through your Savi account. This way, if there are any policy changes in the future, we will still have your application on file, so you will not have to redo any forms, Savi will handle that for you. For borrowers who are already on the PAYE, ICR or IBR plan, this does not affect you as you are already enrolled.
Please note, this does not affect or apply to the Public Service Loan Forgiveness (PSLF) program. Borrowers are still able to submit Employer Certification Forms (ECF) for credit towards forgiveness and employers should still sign forms.
On July 18, a federal court ruling put temporarily the SAVE Plan on hold. While the lawsuits are still pending and the Department of Education works to respond, borrowers who are enrolled in the SAVE plan will temporarily be placed in a forbearance. If you are placed in forbearance, you will not accrue interest and you will not be required to make payments.
Once servicers are allowed to begin processing applications, your applications will be processed.
A summary of each plan’s current application and enrollment availability is as follows:
- SAVE (previously known as REPAYE): Can apply; will be placed in forbearance
- Income-Based Repayment (IBR): Can apply, if eligible (can prove financial hardship)
- Income-Contingent Repayment (ICR): Can apply
- Pay As You Earn (PAYE): Can apply, if eligible (can prove financial hardship)
Savi will continue to monitor the situation and provide more updates here as they become available.