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When the Biden administration rolled out SAVE, or the Saving on a Valuable Education plan, in 2023, it said borrowers would soon benefit from the lowest monthly bills ever.
Nearly 7.7 million people enrolled in SAVE, the U.S. Department of Education recently said.
But borrowers never got those promised lower payments. Just as many of the SAVE plan’s benefits were going into effect, Republican-led legal challenges blocked the program.
Unlike the Biden administration, President Donald Trump’s officials have not fought in the courts to preserve SAVE, and recently, Congress repealed the plan altogether.
Now, millions of student loan borrowers are bracing for bigger payments.
How has the end of the SAVE plan impacted you and your household finances?
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