Attention SAVE Borrowers: Don't Expect Student Loan Payments to Resume This Year. Do This While You Wait

Pla2na/Getty; CNET If you're one of the eight million borrowers who signed up for the Saving on a Valuable Education student loan repayment plan, you're probably wondering what's next for your student loans. There has been a barrage of student loan updates since President Donald Trump's administration came into office, including proposed changes to Public Service Loan Forgiveness eligibility, an effort to restart collections on defaulted student loan accounts and a new Republican-fronted bill seeking to change existing income-driven repayment plan options. Yet, aside from an expected court ruling blocking SAVE, little has been said about what's actually happening for borrowers enrolled in this payment plan. For now, your loan payments remain paused in a general forbearance and your balance isn't collecting interest. That also means you're not making progress toward a loan forgiveness program like PSLF during the payment pause. While you can choose to switch to an alternative repaym ... Read full article.