Now that the Biden administration's SAVE plan is blocked, millions of student loan borrowers will need to find a new way to repay their debt.

A huge number of student loan borrowers may need to change their repayment plan this year. And many may experience higher monthly payments as a result.

SAVE, which offered millions of borrowers lower monthly payments and a shorter timeline for loan forgiveness, was challenged by Republicans after its launch in 2023. President Donald Trump has made it clear he isn't a fan of broad student loan forgiveness, and experts don't expect him to defend the plan .

President Donald Trump has reportedly set his sights on eliminating the U.S. Department of Education, a long-time Republican goal and promise from his campaign. The proposed plan, though, gives rise to a host of unanswered questions—not least of which is what happens to the 42-plus million Americans with federal student loan debt.

Key Points ・Thousands of borrowers are seeing sudden credit score drops after student loan servicers began reporting delinquencies following the end of the federal repayment on-ramp period. ・Many were unaware they were considered late due to confusion over the repayment timeline and loan servicer communications.