3 things student loan borrowers can expect if they stay in the SAVE payment pause — and what they should do instead

Some student loan borrowers are not currently required to make student loan payments. But not doing so can have expensive consequences, experts say.

On Aug. 1, the Trump administration resumed charging loan interest to borrowers who remain in the so-called SAVE forbearance. The Biden administration had offered the payment pause to those enrolled in its Saving on a Valuable Education plan, after that program became mired in legal challenges.

The SAVE plan is now essentially defunct, and the Department of Education has recommended borrowers switch into another plan.

Borrowers can remain in the forbearance for now, and hold off on making payments — but they will see their debt grow, among other consequences.

Here are three things to expect if you stay in the SAVE payment pause, and what to do instead.