May 18, 2026
As the SAVE student loan repayment plan officially comes to an end on June 30, millions of borrowers will soon need to choose a new repayment option and prepare for student loan payments to fully resume. The plan, introduced in 2023 under the Biden administration, was widely considered one of the most affordable repayment options available, offering lower monthly payments and potential loan forgiveness for some borrowers. Now, with the program ending following federal court challenges, borrowers have a 90-day window to enroll in a new repayment plan. Financial experts encourage borrowers to carefully review their options, consider their long-term financial goals, and stay current on payments to avoid delinquency or default, which could negatively impact their credit and future borrowing opportunities.
“If you've been paying these off for 10-plus years, you could be closer to repayment than you think. Spend some time looking over what you paid, pulling all your documents is a good step, and use an online tool to see if you're eligible for some repayment plans,” said Alex Kopp, referencing the online student loan tool available through Consumer Credit Counseling Service of Rochester.
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