My Student Loan Payment May Jump From $0 to $488. Here's Why Yours Might Increase Too

Millions of student loan borrowers haven't made a student loan payment since March 2020. I'm one of those borrowers. Now I'm shifting to prepare for a hefty student loan bill. Student loans were placed into an emergency forbearance during the start of the pandemic in March 2020. Before the payment pause, my student loan payment was around $40 per month. After moving onto the Saving on a Valuable Education plan in 2023, my payments dropped to $0 per month. Then, in the summer of 2024, my loans, along with millions of other borrowers', were quickly put into an interest-free forbearance as the courts ruled on the legality of SAVE. Earlier this month, the courts officially struck down SAVE, and experts don't expect the Trump administration to defend this income-driven repayment plan. With SAVE on its way out, here's what my repayment options for my $63,493 student loan debt look like. Read more: Student Loan Payments Could Skyrocket for SAVE Borrowers. Here's How Much Yours Could Rise ... Read full article.