SAVE Is Officially Ending: What This Means for Your Student Loans and What Happens Next

SAVE Is Officially Ending: What This Means for Your Student Loans and What Happens Next

KAREN CODY-HOPKINS

  • SAVE is ending as part of a proposed settlement with Missouri.

  • Nothing changes for you until the court approves the settlement.

  • Once approved, every SAVE borrower must move into a different plan (or be moved automatically).

  • Most of the 2023 SAVE/IDR improvements disappear, including 5% payments, higher income protection, shortened timelines, and $12k/10-year forgiveness.

  • PSLF and the one-time IDR recount are not affected.

  • A new plan—RAP (Repayment Assistance Plan)—must launch by July 1, 2026.

  • When the time comes, you’ll switch plans at StudentAid.gov/idr, and I’ll walk you through what to do and when.