Student-Loan Borrowers on SAVE Plan Get Final 30-Day Notice to Pick a New Plan

Some student-loan borrowers still enrolled in the Biden-era SAVE income-driven repayment plan are receiving a "final notice" giving them 30 more days to select a new repayment plan, according to Business Insider. A Department of Education spokesperson confirmed that borrowers who got their initial notice to leave SAVE around July 1 have now received the 30-day final warning.

The email, reviewed by Business Insider, tells borrowers that if they don't take action, they'll be automatically placed into the standard or tiered repayment plan — the most expensive options available. The first wave of borrowers had an official deadline of Sept. 29 to leave SAVE, but the department hasn't publicly announced an extension to the original 90-day window, leaving many borrowers confused about which deadline actually applies to them.