BUFFALO, N.Y. — Millions of borrowers will once again see their student loan balances increase.

The Trump Administration, starting Friday, is applying interest to anyone enrolled in the Saving on A Valuable Education plan , also known as SAVE. That's an income-driven repayment plan that offered lower monthly payments.

Payments had been paused because of legal challenges, and balances had been frozen since last summer.

The U.S. Department of Education says borrowers will still be able to be granted forbearance, which delays their monthly payments.

Nearly 43 million people have federal student loan debt, according to the federal government, so these changes impact a lot of people, and a lot of people who are thinking about borrowing in the future.

More changes will soon be on the way.

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