Nelnet Says Some SAVE Borrowers Can Wait Until July 2027 to Switch Plans
Updated
Updated · Forbes · Jul 8
Nelnet Says Some SAVE Borrowers Can Wait Until July 2027 to Switch Plans
3 articles · Updated · Forbes · Jul 8
Summary
Nearly 3 million Nelnet borrowers may not get their 90-day SAVE exit notice until March 2027, giving some until July 2027 to choose a new repayment plan.
Nelnet said notices are being sent in waves from July 2026 through March 2027, a longer runway than borrowers had inferred from Education Department guidance and advocacy alerts pointing to roughly September 2026.
90 days after each notice, borrowers must pick another income-driven plan or risk automatic placement into a Standard plan, which could raise monthly payments and halt progress toward loan forgiveness.
The shifting timeline follows court orders and a settlement that effectively killed the Biden-era SAVE plan early, while borrower advocates say the department's urgent messaging overstated how quickly some borrowers had to act.