Article Summary: The SAVE Student Loophole: Making IDR Loan Payments While Enrolled in Grad or Professional School

Key Points:

• There is a loophole called the SAVE Student Loophole that allows borrowers to make Income-Driven Repayment (IDR) loan payments while still enrolled in graduate or professional school.
• This loophole can be beneficial for borrowers who want to start paying off their loans and potentially get credit towards loan forgiveness earlier.
• By strategically taking out certain types of loans, such as Grad PLUS loans, borrowers can maximize the amount of credit they receive towards forgiveness.
• However, there are certain requirements and limitations to qualify for the SAVE Student Loophole, including being enrolled at least half-time and having a qualifying loan type.

Hot Take:

The SAVE Student Loophole can be particularly relevant for physical therapists who are pursuing graduate or professional education. By taking advantage of this loophole, physical therapists can start making IDR loan payments while still in school, potentially reducing the overall amount of debt they accumulate and getting credit towards loan forgiveness sooner. However, it is important for physical therapists to carefully consider their loan options and eligibility requirements before utilizing this loophole.

Reference Article https://www.studentloanplanner.com/save-payments-during-grad-school/