Federal Student Aid's SAVE Repayment Plan Ends, Affecting Millions of Borrowers

Over 7.5 million federal student loan borrowers must select a new repayment plan after the Saving on a Valuable Education (SAVE) Plan concluded following a court-approved settlement in March 2026. Loan servicers began sending transition notices on July 1, 2026, giving borrowers 90 days to choose an alternative plan before automatic reassignment to a new plan, potentially leading to higher monthly payments.