Student Loan Update — New SAVE Transition Timeline
The Education Department has confirmed that borrowers on the SAVE repayment plan will not be required to move to a new plan until September 29 at the earliest. Most borrowers will receive even more time, as the transition will roll out in waves rather than all at once.
This update replaces the earlier July transition window and gives borrowers additional space to review their repayment options. It arrives ahead of the broader July 1 overhaul of federal repayment plans.
Borrowers who enroll in automatic payments will also see a stronger incentive: the autopay interest reduction increases from 0.25% to 1.00%, lowering costs for those who opt in.
