Changes To Student Loan Repayments

The beginning of July saw changes to student loan programs initiated under the One Big Beautiful Bill Act.  The SAVE Program which existed under President Joe Biden is ending, pushing over 43 million borrowers to choose new repayment options. Those borrowers hold over one trillion dollars in debt. Danielle Douglas-Gabriel of the Washington Post says it could trigger more loan defaults as payments will increase for most borrowers…

“Certainly the Department of Education is trying to get the message out. They have been emailing borrowers, they have been notifying them of these coming changes, the need to switch out of SAVE for several months.