The Education Department sent out a new wave of notices to thousands of borrowers last week, instructing them to move their student loans into a different repayment plan or the department would force their hand. In the meantime, several student loan servicers contracted by the department have quietly updated their websites to reflect a new, faster timeline for the transition than had been initially communicated to borrowers.

The rapid pace of updates centers on the SAVE plan, an income-driven repayment plan created by the Biden-Harris administration that has been hamstrung by legal challenges for more than two years. After the Education Department and a coalition of GOP-led state challengers entered into a settlement agreement earlier this year to terminate the program, student loan servicers have begun sending out notices to borrowers giving them 90-days to move their student loans into a different income-driven repayment plan. If they don’t, the department will automatically place borrowers into a Standard plan, which might be more expensive and wouldn’t count toward student loan forgiveness in most cases.

But just as loan servicers sent out a second batch of 90-day notices to student loan borrowers last week, they also quietly updated their websites, which now show a much shorter timeframe for pushing borrowers out of the SAVE plan than they did before. Here’s the latest, and what borrowers who have student loans enrolled in SAVE should know.

Second Wave Of 90-Day Notice Sent To Borrowers With Student Loans Enrolled In SAVE Plan

The Education Department has indicated that the 90-day notices forcing borrowers to move their student loans off of the SAVE plan are being sent in waves. The........

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