Student Loan Interest Relief Has Officially Ended for over 8 Million Borrowers

Interest to start accruing for student loan borrowers enrolled in SAVE plan

Starting Friday, the U.S. Department of Education will start charging interest for student loans in the SAVE plan.Dan Hirst knows hes not alone. Hes got federal student loans.This SAVE plan was a lifeline to us, Hirst said.Watch full report from Mary O'Connell Student loan interest resumes, leaving borrowers concerned about their financial futuresHirst enrolled in the SAVE plan.Back in 2023, the Biden administration launched what they called the…

Borrowers confused as government makes changes to student loan offerings

Borrowers in the Saving on a Valuable Education (SAVE) plan will see interest accrued once again.

Student loan interest relief has officially ended for over 8 million borrowers

The pause is officially over. Starting today, more than 8 million borrowers enrolled in the SAVE plan will once again see interest accrue on their student loans, marking the end of a relief period that began under the Biden administration. The Education Department announced the move back on July 9, calling the return of interest a step toward “fiscal responsibility” in a statement on their site. “For years, the Biden Administration used so-calle…

Interest on student loans for low-income borrowers is about to skyrocket

As Trump guts the SAVE program, “I feel like we’re holding our breath while watching a train crash.”

Millions of student loan borrowers could see their debt grow as interest-free break ends

Borrowers who remain in the so-called SAVE forbearance could see their education debt grow if they don't make payments large enough to cover accruing interest.