If you are currently enrolled in the SAVE plan, you may have received emails from the Department of Education telling you that the SAVE plan is ending. This fact sheet walks you through what is happening, what you need to do, and deadlines for taking action.
Is it true that the SAVE Plan is ending?
Yes, unfortunately, the SAVE plan is ending for all borrowers.
What will I need to do if I am on the SAVE Plan now?
Keep a lookout for a notice from your loan servicer on or after July 1, 2026. These notices will warn you that you need to enroll in a new repayment plan within 90 days.
There are other income-driven repayment (IDR) plans available. IDR plans base your payments on how much money you earn and the size of your family, and your payments could be as low as $0 a month.
However, it might make sense to wait until July 1 to choose your new plan. There is a new IDR plan called the Repayment Assistance Plan (RAP), which will become available on July 1, 2026. You may choose to wait if you are interested in RAP.
You don’t have to wait to apply for a new plan – you can choose a new payment plan at any time.
What happens if I don’t pick a new plan?
If you do not pick a new plan by the end of your 90-day period, the Department of Education will automatically put you on a new plan. They will probably put you on a Standard Repayment plan, which often has higher payments than other repayment plans. However, even if you are put on the Standard Repayment plan, you can still apply to switch to an IDR plan at any time.
How do I pick a new plan?
You can use the Repayment Calculator to see what your monthly payments would be for each repayment plan. Learn more about the different plans on studentloanborrowerassistance.org.
How do I switch to a new plan?
You can apply online on studentaid.gov.
WARNING!
After switching plans, most people’s payments will be higher than they were on the SAVE Plan.
What happens after I switch plans?
You will start getting monthly bills again once your servicer has processed your application, and you will be required to make payments. If you can’t afford your payments, there are other options! For more information, visit studentloanborrowerassistance.org.
Learn more about the end of SAVE Plan and your options on the Student Loan Borrower Assistance website.
