The SAVE Plan Is Gone and Your Student Loan Payment Could Double

The SAVE plan is gone and your student loan payment could double

If you have federal student loans, log in to your servicer account today. Don’t wait for a letter, because a lot of people never got one.The SAVE (Saving on a Valuable Education) repayment plan is gone. Some borrowers have until Tuesday, Sept. 29, to choose a new plan, although Yahoo Finance reports that, “September 29 is not a nationwide deadline: Borrowers are being contacted in waves and have 90 days from the date of their individual servicer…

SAVE student loan deadline next week: What borrowers should know

SAVE is no longer available following a federal court order, meaning borrowers need to change their repayment plan.

Student loan borrowers exiting SAVE may face sharply higher payments if they don't take action soon

Federal student loan borrowers exiting the SAVE repayment plan face potential payment increases of 100-200% if they don't transition to alternative programs before their deadlines.