Student loan borrowers enrolled in the SAVE (Saving on a Valuable Education) program will see interest accrual begin once again.
SAVE participants were placed in a zero-interest forbearance period but will see that end on July 31 and interest accrual begin on August 1. Loan repayment amounts for the SAVE program borrowers will increase substantially.
SAVE participants can be proactive by:
- Using the Department of Education’s Loan Simulator to calculate different scenarios and explore the different repayment plan options
- Contacting their Department of Education loan servicer with any questions they have
