Education Secretary Linda McMahon, in a statement, urged "all borrowers in the SAVE Plan to quickly transition" to a different loan program.

Nearly 7.7 million student loan borrowers within a Biden-era repayment plan will begin to see interest accrue once again on their student loans, the U.S. Department of Education announced

The Trump administration will resume charging interest next month on student loans under the Biden-era SAVE plan, which have been on hold while the plan’s tied up in court—potentially costing nearly 8 million borrowers an extra $3,500 per year in interest.

Millions of student loan borrowers enrolled in the Biden administration's signature repayment plan are now approaching an unwelcome reality. The U.S. Department of Education has

The Department of Education announced on July 9 that student loans for borrowers in the SAVE plan would start accruing interest on August 1. Their loans, however, will remain in a general forbearance. To avoid interest charges, the Department of Education is encouraging borrowers to switch to another payment plan.

Student loan borrowers’ options are dwindling and time is not on their side as the Trump administration turns up the heat to get all borrowers back in repayment. The recently passed “big, beautiful bill” will take the bevy of choices away from borrowers by 2028,

The Department of Education is encouraging SAVE borrowers to move to the IBR plan, but you should review all your options first.