November 15, 2023

United Way of Pennsylvania

SAVE Plan Lowers Federal Student Loan Payments

In August of 2023, the Biden Administration announced the Saving on a Valuable Education (SAVE) plan, a new income-driven repayment (IDR) plan that calculates borrowers’ monthly payments on income and family size. SAVE, which replaced the Revised Pay As You Earn (REPAYE) plan, is mindful of households, like ALICE, that are struggling to make ends meet and are burdened by educational loans.

The Department of Education estimates that more than 1 million low-income borrowers will qualify for a $0 payment, allowing households to focus on more pressing expenditures. Many borrowers who earn above 225% of the FPL, and are required to make a monthly payment, will likely save around $1,000 a year on payments in comparison to other IDR plans. In addition to lowered monthly payments, borrowers can expect to see multiple new benefits including the potential to not accrue additional interest on loans. This benefit can be utilized if a borrower’s payment is made but is not enough to cover the accrued monthly interest.



Additional benefits will go into effect in July 2024 and can be read about in depth at the link below. Do you have existing federal loans? Consider applying for SAVE today.

LIVE PA Grant Spotlight: Angels Protection

Since October 2021, United Way of Pennsylvania has partnered with the Pennsylvania Department of Heath to administer, promote and facilitate the COVID-19 Local Innovations in Vaccine Equity (LIVE) in Pennsylvania Grant. A grand total of $4 million dollars is available for mini grants to local non-profits along with $630,000 for faith-based organizations with the primary aim of providing access to COVID-19 vaccines for marginalized, underserved, and unserved populations across the commonwealth. Since the beginning of this initiative, we have been able to help dozens of non-profits and faith-based networks to educate and vaccinate hundreds of individuals who might not otherwise have access to vaccines while reimbursing them for their efforts. The grant has been extended through June of 2025 for non-profits and faith-based organizations to continue their work.

One LIVE PA grant partners is the non-profit Angels Protection Inc., based out of eastern Pennsylvania, The organization was founded in 2020, empowered with a strong mission to make the world a better place for girls, young women, and their children and families. Angels Protection Inc., has been able to come up with creative ways to advertise their vaccine clinics, as well as lead outreach initiatives to educate local neighborhoods, and simultaneously advance the cause of their organization.



As we look ahead, we continue to partner with local organizations in their efforts to bridge the equality gap in their local communities and invite anyone who is interested in the LIVE PA grant to reach out.