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Do Student Loan Borrowers in SAVE Need to Do Anything Before Aug. 1?

cnet.com See Full Bio 2025-07-23 21:00:07

Interest will restart for SAVE borrowers whose loans remain in a general forbearance on Aug. 1. Viva Tung/CNET As the old adage goes, the only constant student loan borrowers enrolled in SAVE have experienced over the past two years is a perpetual state of change. Last week, the Department of Education announced that interest would resume for the nearly 8 million borrowers in the Saving on a Valuable Education plan on Aug. 1. That gives borrowers roughly two weeks to decide if they want to mov

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Student Loan Update: Here's What SAVE Borrowers Should Do Before Aug. 1

cnet.com See Full Bio 2025-07-28 21:45:00

Interest will restart for SAVE borrowers whose loans remain in a general forbearance on Aug. 1. Viva Tung/CNET Starting on Aug. 1, borrowers who are enrolled in the Saving on a Valuable Education plan will begin accruing interest charges on their loan balances. The Department of Education is encouraging borrowers to pick a new payment plan, but you also have the option to leave your loans where they are. The Department of Education "urges all borrowers in the SAVE plan to quickly transition to

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Interest Restarts for SAVE Student Loans on Aug. 1. Should You Switch to Another Payment Plan by Then?

cnet.com See Full Bio 2025-07-29 12:45:03

Interest will restart for SAVE borrowers whose loans remain in a general forbearance on Aug. 1. Viva Tung/CNET Starting on Aug. 1, borrowers who are enrolled in the Saving on a Valuable Education plan will begin accruing interest charges on their loan balances. The Department of Education is encouraging borrowers to pick a new payment plan, but you also have the option to leave your loans where they are. The Department of Education "urges all borrowers in the SAVE plan to quickly transition to

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Should Student Loans Borrowers in SAVE Switch to Another Repayment Plan? It's Complicated

cnet.com See Full Bio 2025-07-31 12:37:10

Interest will restart for SAVE borrowers whose loans remain in a general forbearance on August 1. Viva Tung / CNET Starting Aug. 1, borrowers enrolled in the Saving on a Valuable Education plan will start accruing interest charges on their loan balances. The trouble is, their payments remain on hold in a general forbearance. Now they're being encouraged to choose a new payment plan or face interest charges. The Department of Education "urges all borrowers in the SAVE plan to quickly transition

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Student Loan Update: Here's What SAVE Borrowers Should Do by August 1

cnet.com See Full Bio 2025-08-03 17:21:48

Interest will restart for SAVE borrowers whose loans remain in a general forbearance on August 1. Viva Tung / CNET Federal student loans for those who are enrolled in the Saving on a Valuable Education plan have been in an interest-free forbearance for a year while the income-driven repayment plan was challenged in court. Although SAVE has been officially blocked in the courts, borrowers' loans are still in limbo. Now, borrowers are being encouraged to choose a new payment plan or face interest

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SAVE Borrowers, Your Student Loans Will Start Accruing Interest Again on Aug. 1: What to Know

cnet.com See Full Bio 2025-08-05 16:11:00

Getty Images/Zooey Liao/CNET It looks like time has run out for the nearly 8 million student loan borrowers enrolled in SAVE. The US Department of Education announced that loans will resume accruing interest on Aug. 1. Borrowers enrolled in the Saving on a Valuable Education Plan, a product of the Biden administration, have been in limbo since June 2024, when Republican opponents challenged the plan and later struck down by a federal court. Since then, borrowers have had their loans placed in

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Student Loan Repayment Plans Will Last as Long as Most Mortgages. How Much the New Budget Bill Will Cost You

cnet.com See Full Bio 2025-08-10 09:37:00

The Republican-led policy bill cuts repayment plans to two options for future borrowers. Getty Images/Zooey Liao/CNET The Republican-led "One Big Beautiful Bill" was signed into law by President Donald Trump last week, which will result in major changes to student loans, including fewer repayment options, caps on borrowing and new rules for Pell Grants. The nearly 900-page bill means a lot of changes for taxes and Medicare, but its impact on higher education could alter how colleges operate an

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GOP Budget Bill Reduces Student Loan Repayment Options and Limits Borrowing. What You Need to Know

cnet.com See Full Bio 2025-08-16 05:30:03

Republican lawmakers have proposed major changes to student loans, which would affect current and future borrowers. Liudmila Chernetska/Getty Images/CNET Congress is one step closer to passing federal student loan changes in the Republican-led "One Big Beautiful Bill." The Senate narrowly passed its version of the budget bill earlier this week, and it is now back in the House. If the House does decide to pass the bill as is -- and there could be more amendments, so nothing is final -- borrower

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GOP Student Loan Overhaul: Here's Who Will See Lower Monthly Payments and Who Will Pay More

cnet.com See Full Bio 2025-08-26 01:01:00

Republican lawmakers have proposed major changes to student loans, which would affect current and future borrowers. Liudmila Chernetska/Getty Images/CNET Republicans in Congress are moving closer to overhauling the federal student loan system with budget legislation that, following US President Donald Trump's lead, they call "One Big Beautiful Bill." House Republicans passed their version of the bill in May, and the GOP-majority Senate's Committee on Health, Education, Labor and Pensions releas

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