Student-loan borrowers report concerns about SAVE, defaults and repayment plans

More than 400 borrowers answered a survey and many said they are enrolled in the SAVE plan and worried about its proposed end; respondents also reported concerns about defaults, wage garnishment, and uncertainty around Public Service Loan Forgiveness.

Over 400 student-loan borrowers responded to a brief survey describing their repayment experiences and concerns for 2026. The majority reported worry about future balances and about losing access to more affordable repayment options. A proposed Department of Education settlement with Missouri would end the SAVE plan if approved by a court. Respondents also raised concerns about default, wage garnishment, and changes to Public Service Loan Forgiveness eligibility. Key facts: - Survey size: more than 400 respondents shared repayment experiences and concerns. - SAVE plan status: the Department of Education announced a proposed settlement with Missouri to end SAVE; the settlement has not yet been approved by a court and would stop new enrollments and move current enrollees to other plans if approved. - PSLF concerns: over 60 respondents said they are pursuing Public Service Loan Forgiveness and reported uncertainty after a finalized Department rule that will narrow eligibility; the rule is set to take effect in July as reported. - Default and collections: collections resumed in May 2025 and the department reported it would begin notifying about certain borrowers of wage garnishment actions starting January 7, with over 5 million borrowers reported to be in default. Summary: Many respondents said SAVE functioned as an important repayment option and that its potential end raises affordability concerns. The Department of Education's settlement to end SAVE is pending court approval, and other federal actions—such as a PSLF eligibility rule set to take effect in July and resumed collections—are already influencing borrowers' expectations. Undetermined at this time