Student-loan borrowers on the SAVE plan will soon receive notices to transfer to a new plan. If they don't take action, bills could be even higher.

Student loan rules are changing on July 1. Borrowers may need to review repayment plans, loan limits, and key deadlines.

Millions of SAVE borrowers must act before federal student loan rules change as repayment options disappear. Nearly 7.5 million borrowers could face higher monthly payments if…