Millions of student loan borrowers are facing a big change this fall. The SAVE repayment plan has ended, and many borrowers now have to pick a new plan or risk having one chosen for them.
Why the SAVE Plan Ended
The SAVE plan ended because of the One Big Beautiful Bill Act, the spending law signed by President Donald Trump. Borrowers who were enrolled in SAVE, including those whose loans were in forbearance, are now moving back into repayment.
For many people, the new monthly payment could be several hundred dollars higher than before, according to the San Antonio Report.
Key Deadlines Borrowers Should Know
Federal notices started going out to SAVE borrowers on July 1, 2026. Each borrower got 90 days to choose a new repayment plan. That window was later extended by 30 days.
For the first group of borrowers who got notices, the final deadline was October 29. However, not everyone is on the same timeline, so borrowers should check their own notice.
If you miss your deadline, your loan servicer may place you on a plan of their choice. That plan may not be the best fit for your budget.
Repayment Options Now Available
Here are the main options borrowers can choose from:
- Tiered Standard Plan: A fixed monthly payment over 10 to 25 years, depending on how much you owe. This plan is open to all borrowers.
- Repayment Assistance Plan (RAP): Payments are between 1% and 10% of your yearly income. This plan is not available for parent PLUS loans.
- Other income-driven plans: These include Income-Based Repayment, Income-Contingent Repayment and Pay As You Earn. Payments are based on your income and family size.
- Loan consolidation: This combines several loans into one loan with one fixed interest rate.
Loans given out on or after July 1, 2026, can only use the Tiered Standard Plan or RAP.
What You Should Do Next
- Log in to StudentAid.gov to find out who your loan servicer is.
- Contact your servicer to confirm your deadline.
- Use the federal loan simulator to compare plans. You will need your loan type, balance, tax filing status and yearly income.
- Apply for an income-driven plan through your online account if it fits your budget.
Taking action early can help you avoid a surprise payment and give you more control over your finances.
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