India, July 15 -- The US Education Department has started sending official notices to student loan borrowers who are still in the SAVE repayment plan. The notice tells borrowers that they have 90 days to choose a new repayment plan. The notice clearly says, "You must now select a new repayment plan" within 90 days.

If borrowers do not choose another plan within 90 days, their loans will automatically move to either the Standard Repayment Plan or the Tiered Standard Plan, depending on their situation. These notices are part of the government's plan to officially end the SAVE repayment program. The SAVE plan was introduced during former President Joe Biden's administration as an income-driven repayment program, according to Forbes.

The SA...