politics
Millions of student loan borrowers on SAVE plan will soon need to find a new repayment option
Key takeaways
- (NEXSTAR) – Federal student loan borrowers who have spent years benefiting from the Biden-era Saving on a Valuable Education plan – better known as the SAVE plan – will soon need to find a new repayment option.
- In December, the Department of Education announced it had reached an agreement with Missouri to end the SAVE plan established in 2023 under the Biden administration.
- As part of the SAVE plan, which considered a borrower s income and family size, some borrowers had monthly payments as low as $0.
Why this matters: political developments that affect policy direction and public trust.
Aired May 14, 2026.
(NEXSTAR) – Federal student loan borrowers who have spent years benefiting from the Biden-era Saving on a Valuable Education plan – better known as the SAVE plan – will soon need to find a new repayment option.
In December, the Department of Education announced it had reached an agreement with Missouri to end the SAVE plan established in 2023 under the Biden administration. At the time, more than 7 million federal student loan borrowers were enrolled in the plan.
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