Beginning August 1, federal student loan holders who are enrolled in the SAVE Plan will see interest accrue on their student loans, but payments are still suspended. Eligible borrowers can apply for and recertify under the Income-Based Repayment (IBR), Income-Contingent Repayment (ICR), and Pay As You Earn (PAYE) Repayment Plans, as well as Direct Consolidation Loans. Many changes to student loans are expected to take effect July 1, 2026. We will update this page as information becomes available. To learn the latest, go to StudentAid.gov.

Dana Webb

About the Author

Dana Webb, a longtime medical reporter, used to read finance and investing content for fun during her downtime — the way other people read about decorating or cooking. Now she enjoys applying the reporting and writing skills she honed covering scientific research to writing stories for SoFi, with a special focus on advice and insight for homebuyers and homeowners. She's bought (and sold) a home three times and has learned something every time, advice she's happy to share with readers.

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