Now that the Biden administration's SAVE plan is blocked, millions of student loan borrowers will need to find a new way to repay their debt.

SAVE, which offered millions of borrowers lower monthly payments and a shorter timeline for loan forgiveness, was challenged by Republicans after its launch in 2023. President Donald Trump has made it clear he isn't a fan of broad student loan forgiveness, and experts don't expect him to defend the plan .

Key Points ・Thousands of borrowers are seeing sudden credit score drops after student loan servicers began reporting delinquencies following the end of the federal repayment on-ramp period. ・Many were unaware they were considered late due to confusion over the repayment timeline and loan servicer communications.