Personal Finance
7.5 Million Student Loan Borrowers Must Pick a New Repayment Plan This Week
via U.S. Department of Education
Borrowers enrolled in the SAVE income-driven repayment plan face a September 29 deadline to choose a different option, 90 days after servicers sent required transition notices in July. Those who have not responded will be auto-enrolled into either Standard Repayment or the new Tiered Standard Repayment Plan.
Why it matters
With roughly 7.5 million borrowers affected, anyone still on SAVE should log into studentaid.gov this week to compare payment amounts under available plans before being automatically switched.


