Student Loan Borrowers Face 90-Day Deadline to Select New Repayment Plan as SAVE Plan Ends

Millions of federal student loan borrowers previously enrolled in the Saving on a Valuable Education (SAVE) Plan are now facing a 90-day deadline, starting July 1, 2026, to choose a new repayment plan. The Department of Education has begun sending formal notices, and borrowers who do not select a new plan will be automatically enrolled into either the Standard Repayment Plan or the new Tiered Standard Plan, which base payments on loan balance rather than income. This change could significantly increase monthly payments for many, as over half of SAVE borrowers previously had a $0 monthly payment.