Student Loan Law: 3.5.3.2 New IDR Regulations and REPAYE/SAVE
In July 2023, the Department published new IDR regulations intended to improve and simplify the IDR program for borrowers.73 The centerpiece of the new regulations are extensive changes to the REPAYE plan—now rebranded as the Saving on a Valuable Education (SAVE) plan—to make it more affordable and the best IDR plan for most (though not all) borrowers.