Hello everyone,
My student loan repayment is set to begin on August 8th, and I was planning to enroll in the SAVE plan. However, I’ve just learned that the SAVE plan is no longer an option for me. With the repayment date approaching, I’m unsure of what steps to take next. Should I enroll in a different Income-Driven Repayment (IDR) plan, or should I wait to see if there are any new options or changes?
Is anyone else in a similar situation? Any advice on how to handle this would be greatly appreciated.
Thanks… 
If you’re facing a situation where the SAVE plan has been cancelled just as repayments are starting again, it’s important to take proactive steps. First, I would recommend checking if you are still eligible for any other income-driven repayment plans, as these can offer lower monthly payments based on your income and family size. The SAVE plan was designed to help borrowers manage their payments better and even provided a path to debt cancellation after a certain number of payments, so it’s crucial to explore similar options. If you’ve already made payments under the SAVE plan, those may still count toward forgiveness under other plans. Additionally, keep an eye on any updates from the Department of Education, as they may introduce new programs or changes that could benefit you. It’s also a good idea to reach out to your loan servicer for personalized advice on how to handle your loans moving forward. Staying informed and seeking assistance can help you navigate this challenging situation effectively.