Student Loan Changes July 1: Millions of SAVE Borrowers Need to Act Soon

A quarter-million student borrowers in Illinois need a new repayment plan. What to know as SAVE plan ends

More than a quarter-million student loan borrowers in Illinois recently received an urgent email from federal education officials telling them they must choose a new repayment plan, and soon, as the most affordable option disappears July 1.The Saving on a Valuable Education, or SAVE, plan began in early 2024 under former President Joe Biden. That year, nearly 8 million borrowers enrolled in the plan nationwide, including around 273,000 in Illino…

Student loan changes July 1: Millions of SAVE borrowers need to act soon

Federal student loan rules change on July 1. SAVE borrowers should review repayment plans now or risk higher payments and fewer options.

Student loan borrowers face glitches and misinformation ahead of major July 1 changes, advocates say

Organizations that work with student borrowers report technical glitches that are making it difficult to get correct information and to access repayment plans.

Student loan payments could jump by hundreds of dollars — and the deadline to avoid it is closer than you think

Student loan borrowers enrolled in the SAVE plan should be aware of this deadline and act soon because more expensive payments are on the way.

Don’t wait: What borrowers need to know about changing student loan plans

DALLAS — Melissa Brennan put her son through law school, and thought she would be able to help her daughter get through medical school. But significant changes to federal student loan repayment plans that begin on July 1 could shape her daughter's future. If Brennan's daughter gets into an in-state school like UT Southwestern Medical School, she could live at home and her parents could help ...

A quarter million student borrowers in Illinois need a new repayment plan. What to know as SAVE plan ends - Open Campus

More than a quarter of a million student loan borrowers in Illinois recently received an urgent email from federal education officials telling them they must choose a new repayment plan, and soon, as the most affordable option disappears July 1. The Saving on a Valuable Education, or SAVE, plan began in early 2024 under former President Joe Biden. That year, nearly 8 million borrowers enrolled in the plan nationwide, including around 273,000 in …