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Student loans news
The gist
Borrowers on the defunct SAVE plan must pick a new repayment plan within 90 days or be moved to the costliest option.
The shift hits millions of borrowers while colleges and Congress push separate fixes.
How it unfolded
- 2001Princeton University became the first school in the US to replace student loans with grants.
- 2023A Federal Reserve analysis found borrowers who took out loans for education they did not complete had worse financial outcomes than those who completed their programs.
- Sep 11, 2026The Washington Post reported the Education Department will place borrowers in the most expensive repayment plan if they don't exit the SAVE plan in the coming months, and that the process has had snags.