The Education Department said on Wednesday it would resume applying interest on Aug. 1 to federal student loans of nearly eight million borrowers who enrolled in the SAVE plan.

Millions of Americans with student loans will soon face resumed interest accrual and monthly payments as changes made under the Trump administration.

Although interest will restart next month, borrowers enrolled in SAVE remain in a general forbearance -- for now. If you're in PSLF, pursuing forgiveness or unable to afford your monthly payment, you have some options.