Education Department tells 7.5 million SAVE borrowers to prepare for repayment
Quick Insights
The Bottom Line
Seven and a half million student loan borrowers enrolled in Biden-era SAVE repayment plan must seek a new repayment option.
How This Affects You
If you're on the SAVE plan, you must switch to a different repayment method, which could change your monthly payment amount and total interest paid over the life of your loan.
AI Summary
The Education Department is notifying 7.5 million borrowers enrolled in the SAVE repayment plan to prepare for resuming loan payments after an extended pause. The notices direct borrowers to select a new repayment plan as the administration moves away from the Biden-era SAVE program, which had offered income-driven repayment options with lower monthly payments for eligible borrowers. This shift affects millions of Americans who have paused payments for years and will now face decisions about how to resume repaying their federal student loans. The timing coincides with the Trump administration's broader effort to reshape student loan policy, including challenges to debt-relief initiatives from the previous administration. Borrowers who fail to select a new plan may be automatically enrolled in a standard repayment option.
What's Being Done
The Education Department is notifying 7.5 million borrowers and instructing them to select a new repayment plan.
Following this story?
Get notified when new coverage appears
This article is part of a story we're tracking:
Should this be getting more attention?
You Might Have Missed
Related stories from different sources and perspectives
PoliticsEducation Department sets deadline for student loan borrowers to get out of SAVE Plan
The Education Department announced Friday that student loan borrowers will have to get out of the Biden-era Saving on a Valuable Education (SAVE) Plan by the end of the summer. More than 7.5 million borrowers are still in the SAVE Plan after a court officially terminated what had been called the most generous student loan repayment option available. On July 1,…
Government TransparencyThe nonprofit status of NCAA athletic departments is starting to raise questions
In an era of billion-dollar TV deals and million-dollar payments to players, the tax code continues to treat university athletic departments as organizations that promote education and amateur sports.
Government TransparencyThe Justice Department plans to share sensitive voter data with Homeland Security
The Justice Department has sought voter data from states. It now says it plans to share that data with the Department of Homeland Security, to run it through a controversial citizenship check tool.
Finance8 Arrested in Health Care Fraud Takedown, Including Owners of Hospices that Billed Taxpayers Millions of Dollars to Serve the ‘Dying’ - Department of Justice (.gov)
Government TransparencyA year after Trump's DOGE cuts, workers whose lives were upended ask what was saved
A year after federal employees were hit by the Trump administration's cost-cutting efforts through the Department of Government Efficiency, it remains unclear what the agency saved.
FinanceBank of America reaches $72.5 million settlement in Epstein lawsuit
Bank of America has reached a $72.5 million settlement in a lawsuit that alleges the financial giant helped facilitate the sex trafficking operation of convicted sex offender Jeffrey Epstein.
Trump's 2027 budget asks Congress for $1.5 trillion in defense spending
President Trump's new budget proposal asks Congress for $1.5 trillion in defense spending — a 42% increase — while cutting nondefense spending by $73 billion, or 10%.
Did this story change how you see things?
Stories like this only matter when people see them. Help us get verified journalism in front of more eyes.
The Verity Ledger curates verified investigative journalism from trusted sources only.
See our sourcesMost Read This Week
'The gravest crime against humanity': What does the UN vote on slavery mean?
After 16 years and $8 billion, the military's new GPS software still doesn't work
US paves way for private assets to be included in 401(k) retirement plans - Reuters
The Justice Department plans to share sensitive voter data with Homeland Security
Trump administration scales back on asylum crackdown, sources say
