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SAVE Plan Ends 90 Days to Act | El Paso News
Description
Millions of federal student loan borrowers face a critical 90-day deadline to switch repayment plans before payments skyrocket—thanks to the Biden administration’s recent overhaul that’s shuttering the popular SAVE Plan. Seven million borrowers relying on SAVE must now choose between standard repayment or two new income-driven options, including the Repayment Assistance Plan, which could slash monthly payments to as low as $10. If they do nothing, they’ll be auto-enrolled in a high-cost default plan. New caps also apply to graduate loans, varying by field of study. With student debt nearing $1.7 trillion, experts warn inaction is costly—visit studentaid.gov to compare plans and avoid surprise hikes.
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