SAVE Plan ending: Federal loan borrowers in 11 states will see $300-plus monthly interest charges

Plan

Time to forgiveness

SAVE (undergraduate loans)

• Originally (since struck down by the courts): 10 years for balances up to $12,000, and one additional year for each additional $999 in loans

• 20 years (undergraduate) or 25 (graduate, professional)

SAVE (graduate loans)

• 25 years

IBR (loans borrowed before July 1, 2014)

• 25 years

IBR (loans borrowed after July 1, 2014)

• 20 years