The news after the 8th Circuit Court of Appeals ruled issued an injunction to halt the SAVE plan and other IDR plans in a Feb. 18 ruling, according to Forbes.

“A federal court issued an injunction preventing the U.S. Department of Education from implementing the Saving on a Valuable Education (SAVE) Plan and other income-driven repayment (IDR) plans,” reads a notice. “As a result, the IDR and loan consolidation applications are currently unavailable.”

With IDR plans, borrowers can make payments based on their income and family size. After 20 to 25 years of repayment, any remaining balance is forgiven. Former President Joe Biden introduced the SAVE plan in 2023 and described it as “the most affordable student loan plan ever,” according to CNBC. The plan lowered monthly payments for borrowers and offered quick debt cancellation for those with small balances.

It is unclear if the Department of Education is still accepting paper applications for IDR and direct consolidation plans, as the forms are still currently available online.

The change likely means borrowers need to switch to a new repayment plan. 

“Borrowers who were in SAVE will have to pay more on their federal student loans, in some cases double or even triple the monthly loan payment,” Mark Kantrowitz, a higher education expert, told CNBC.

As of now, only the Income-Based Repayment Plan (IBR) leads to debt cancellation. Those pursuing Public Service Loan Forgiveness are also eligible for debt forgiveness after 10 years on any IDR plan.

“It’s also important to point out that all the IDR plans cross-pollinate for forgiveness,” president of The Institute of Student Loan Advisors Betsy Mayotte said. “If someone has been on PAYE for eight years and now switches to IBR, they will still have eight years under their belt toward IBR forgiveness.”