Biden’s SAVE plan for student loans is officially dead. Here’s what experts suggest now

PBS.org

After receiving that notice from the Education Department, borrowers will likely be given a period of time to change from SAVE to another plan, said Betsy Mayotte, founder at The Institute For Student Loan Advisors.

“The big, outstanding question here is: If someone fails to change plans within the window of time they’re given, will they be put on the next lowest income-driven plan, or will they be put on a standard repayment plan?” Mayotte said.

To avoid that, it’s important to know what options are available to you, and be ready to make a selection before you’re automatically switched out.