A Department of Education spokesperson confirmed that 1.5 million of the 7.5 million student-loan borrowers on the SAVE repayment plan had selected a new repayment plan as of Monday morning. SAVE was a Biden-era plan offering lower monthly payments and a shorter timeline for debt relief, but the Trump administration eliminated it this spring. September 29 is the first deadline for borrowers to transition off the plan. Those who do not take action by their deadline will be placed in the most expensive repayment plan.
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