A quarter million student borrowers in Illinois need a new repayment plan. What to know as SAVE plan ends

Over 250,000 student loan borrowers in Illinois must choose a new repayment plan by July 1 as the SAVE plan ends. The plan, launched in 2024 under President Biden, faced legal challenges from Missouri and six other Republican-led states, leading to its elimination. Critics argue its removal will disproportionately affect Black borrowers, women, and lower-income individuals who benefited most from the program.