What will happen after July 1? Millions of SAVE borrowers must act before federal student loan rules change as repayment options disappear

Millions of SAVE borrowers must act before federal student loan rules change as repayment options disappear. Nearly 7.5 million borrowers could face higher monthly payments if they fail to choose a new repayment plan during the transition period. Key federal student loan changes will phase out popular income-driven repayment options, affect loan forgiveness pathways, and automatically move some borrowers into costlier repayment plans.