Are you *** student loan borrower on the saving on *** valuable education plan, commonly referred to as the save plan? If so, the Department of Education recently announced some big changes that will cost you hundreds of dollars per month if you do not take action. So here's what's going on. The Biden administration introduced the save plan back in 2023, saying it would lower the monthly payments of millions of borrowers, some as low as $0. Now, in response, several Republican-led states filed lawsuits to block the plan, arguing it overstepped the Education Department's authority and would put high costs onto taxpayers. While the plan was in legal limbo, borrowers were not required to make any payments. And after 2 years in litigation, *** federal appeals court effectively ended the plan. This leaves over 7 million borrowers to figure out their next steps. Starting July 1st, anyone still under the safe plan will be contacted by their servicer, who will give them at least 90 days to choose *** new repayment plan. If you don't take action, your servicer will automatically enroll you into one of the new plans created by the Trump administration's One Big Beautiful bill. This could mean *** difference of hundreds of dollars on your monthly bills and thousands on your interest paid over the years. So let's break down the. Options. First, you have the two new plans created by the one big beautiful bill, one with fixed monthly payments for 10 to 25 years and one that takes 1% of your earnings for 30 years. The department says the plans will be ready by July 1st, and going forward, anyone who takes out federal loans after that date can only choose between these plans. There are also income-driven repayment options. But the department will be phasing out two of them by July of 2028, so you'll need to switch again before then. Ultimately, choosing the best plan is personal. Do you want to pay it off as fast as you can and pay less in interest, or do you want low monthly payments? For immediate next steps, look for updates from your servicer and the Department of Education. Log into your servicer account to review the options to see what plan works best for you and visit studentaid.gov to use *** federal loan simulator to compare plans. Reporting in New York, I'm Ali Jasinski.