What happens to your student loans now that the SAVE plan is dead?

After a long court battle, the SAVE plan is officially kaput.

Launched in 2023, the Biden administration’s Saving on a Valuable Education (SAVE) federal student loan repayment plan was created to replace the outgoing REPAYE program–and help keep Biden’s campaign promise to forgive student loans.

Under the SAVE plan, a borrower’s monthly payment would be calculated based on income and family size and could be set as low as $0 per month for the lowest-earning borrowers. The program...