Federal student loan borrowers who enrolled in President Biden’s SAVE income-driven repayment plan have been in an interest-free forbearance for nearly a year.

At the end of next week, nearly 7.7 million student loan borrowers who have been in a zero-interest forbearance under the Saving for a Valuable Education repayment plan will see their balances grow monthly again.

If you're on the SAVE plan, now is the time to review your options before changes to your loan interest take effect next week.