Federal Student Loan Borrowers Face Key Deadline for SAVE Plan Changes This Week

A crucial deadline is approaching this week for some federal student loan borrowers to select a new income-driven repayment plan, as the Education Department transitions millions off the SAVE plan. Borrowers who miss the October 29 deadline, after receiving initial 90-day notices on July 1, will be automatically enrolled in either a Standard or Tiered Standard plan, potentially leading to higher monthly payments and affecting loan forgiveness eligibility.