On August 1, interest resumes for 7.7 million borrowers under the SAVE plan after a year-long pause, following legal challenges. Borrowers should review their options as student loan rules shift.

As the moratorium on federal student loans comes to an end, millions of borrowers must navigate a landscape of limited repayment options. With the expiration of the SAVE plan, borrowers face the challenge of managing their debt without the benefit of interest-free relief.

Overall, the change will see borrowers being charged more than $27 billion in interest over the next 12 months.