Households earning between $90,000 and $100,000 a year with four tax dependents would face the steepest percentage increase in student loan payments if they switch from SAVE to the Repayment Assistance Plan, according to a new report.
Freedom Debt Relief detailed that monthly payments would climb from $33.21 under SAVE to $512.50 under RAP, an increase of 1,443%. The additional expense would total $479.29 a month, or $5,751.48 annually.
