Millions of Student Loan Borrowers Given 90 Days to Select New Repayment Plans

The U.S. Department of Education has begun issuing notices to millions of federal student loan borrowers in the Saving on a Valuable Education (SAVE) repayment program, informing them they have 90 days to choose a new repayment option. Borrowers who do not select a new plan will be automatically enrolled in the Tiered Standard Repayment Plan.