Student Loan Repayment Plan Replaced, Potentially Increasing Payments for Millions

The Saving on Valuable Education (SAVE) plan has been eliminated, replaced by the new Repayment Assistant Plan (RAP) for new borrowers as of July 1, 2026. Existing SAVE enrollees have 90 days to choose a new plan or face automatic enrollment in the Standard Plan. This change could lead to significantly higher monthly payments for millions of student loan borrowers, particularly those with lower incomes, requiring them to make difficult financial decisions.