Decision time is near for millions of federal student loan borrowers who will need to pick a new repayment plan starting July 1. Due to the Big Beautiful Bill Act passed in July 2025, repayment plans for student loans will look different, requiring borrowers to choose from just two options: a Repayment Assistance Plan and a Tiered Standard Plan. For those who do not choose in time, the government will make a decision for them. Among those affected are the roughly 7 million loan holders enrolled in Saving for a Valuable Education (SAVE), the Biden-era repayment program. The income-driven plan offered one of the most affordable options for individuals. SAVE holders have already been in a complicated situation since 2024 , when they were placed in a nearly two-year, interest-free forbearance due to Republican-led legal battles. Starting July 1, those enrolled in SAVE will receive notice from federal loan servicers with further instructions and deadlines on how to take action.…