Terry Savage, Tribune Content Agency

If you have outstanding student loans, you are likely about to encounter some significant and confusing changes. If you have participated in a plan to lower your payments or defer them based on income, you have a relatively short period to contact your loan servicer to make changes.

Nearly 8 million borrowers were enrolled in the now-canceled Saving on a Valuable Education (SAVE) Plan. These borrowers had been placed in “administrative forbearance” — meaning payments were paused and no interest accrued — from July 1, 2024 until August 1, 2025, when interest started accruing again.

An additional 2 million student loan borrowers had pending applications for income-driven repayment (IDR) plans. They were also in forbearance while awaiting the processing

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