Millions of student loan borrowers are facing a deadline that will change their repayment situation. The SAVE Plan, which was launched in 2023, has been in a state of limbo due to lawsuits, resulting in no required payments for borrowers. For those enrolled in the SAVE Plan, a 90-day countdown has begun, starting from July 1.

Loan servicers are sending formal notices to over 7 million borrowers, informing them of the upcoming changes. Further details about the end of the SAVE Plan and its implications for student loan borrowers are available from KVIA ABC-7.