Financially Savvy Futures

Financially Savvy Futures A nonprofit focusing on sharing information about how to finance one's educational goals.

09/13/2026

Can borrowers get credit for time in SAVE forbearance?


Comment your number. Document it — policy can still change.
How many months toward forgiveness do you think you lost?
Currently, months in the court-ordered SAVE forbearance do not count toward PSLF or IDR forgiveness timelines. No buyback or credit program has been announced. Borrowers should document all time on SAVE in case future policy changes offer retroactive credit. Switching to a qualifying plan now is the only way to resume building toward forgiveness.

09/12/2026

What is IBR and is it still available?


Comment which way you're leaning and why.
Is IBR on your shortlist, or are you looking at RAP?
Income-Based Repayment (IBR) caps your monthly payment as a percentage of discretionary income. It is the only legacy IDR plan that survives indefinitely after the OBBBA. It remains open to borrowers who took out loans before July 1, 2026. Old IBR charges 15% of discretionary income (pre-2014 borrowers) and new IBR charges 10% (2014–2026 borrowers).

09/11/2026

What's the difference between old IBR and new IBR?


Comment the year. We'll tell you which IBR is yours.
What year did you first borrow?
Old IBR (first loan before July 1, 2014): payments are 15% of discretionary income, forgiveness after 25 years. New IBR (first loan July 1, 2014–June 30, 2026): payments are 10% of discretionary income, forgiveness after 20 years. Both qualify for PSLF. Neither is available to borrowers whose first loan is on or after July 1, 2026.

09/10/2026

How is IBR payment calculated?


Comment your guess, then check it against the math.
Guess the monthly payment: $50,000 salary, family of one.
IBR payments = a percentage of your discretionary income. Discretionary income = AGI minus 150% of the federal poverty guideline for your family size. New IBR uses 10%; old IBR uses 15%. Example: Single borrower earning $50,000, poverty guideline ~$22,590 at 150% → discretionary income $27,410 → new IBR payment: $27,410 × 10% ÷ 12 = ~$228/month.

09/09/2026

What changed about IBR eligibility under the new law?


Comment if you were turned down before. You may qualify now.
Were you ever denied IBR for lacking 'partial financial hardship'?
Previously, IBR required a 'partial financial hardship'—your IBR payment had to be lower than your Standard 10-year payment. The OBBBA removed this requirement. Now any borrower with an eligible loan disbursed before July 1, 2026 can enroll in IBR regardless of income, opening it to higher earners who were previously locked out.

09/08/2026

When FAFSA money actually runs out


Seniors - is it on your calendar yet? Comment FAFSA and I'll send the free one-page checklist.
When should I file the FAFSA?
FAFSA has a federal deadline months away, but the aid you actually want is gone long before that. Federal Work-Study and campus grants are first-come, first-served, and schools stop awarding once the pot is empty. The form is expected to open by October 1. Filing in the first two weeks is worth real money.

09/07/2026

Why a parent cannot use your FSA ID


Have you made yours yet? Comment FAFSA and I'll send the setup checklist.
Can my parent use my FSA ID?
Every person whose information goes on the FAFSA is a contributor, and each one signs with their own FSA ID, their own email, their own password. Sharing a single login is the fastest way to get an application flagged, and signing as someone else is a federal offense.

09/06/2026

Create your FSA ID before October


Have you done it yet? Comment FAFSA and I'll send the free one-page checklist.
How long does it take to get an FSA ID?
Creating the account takes about four minutes, then it has to finish verifying, which takes one to three days. And if a parent does not have a Social Security number, they can still create one - it just gets verified a different way, and it does not block the student's aid. Families find all of this out on October 1 and sit there.

09/05/2026

There is no income cutoff for FAFSA


Has someone told you not to bother? Tell me who in the comments.
Is there an income limit for FAFSA?
Federal loans do not care what your family earns, and a lot of schools will not release their own institutional money unless the FAFSA is on file. Not filing is the only way to guarantee you get zero. The form is free, and the worst outcome is finding out you qualified for nothing.

09/04/2026

Which tax year the FAFSA uses


Did you think you had to wait? Comment FAFSA for the free checklist.
What tax year does the FAFSA use?
FAFSA uses tax returns from two years back, so the 2027-28 form runs on 2025 taxes. Your number is already locked in. People delay filing because they think they need this year's return, or they are waiting on tax season. They are not.

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