1.5 million student-loan borrowers left Biden's key repayment plan. Here's what's at stake for the 6 million others.

The Education Department is encouraging student-loan borrowers to leave the SAVE repayment plan.

Al Drago/Getty Images 1.5 million student-loan borrowers have left the SAVE repayment plan.

Sept.

29 is the first deadline for borrowers to transition off the plan.

Those who don't take action by their deadline will be placed in the most expensive repayment plan.

Millions of student-loan borrowers have yet to leave a key repayment plan — and the first deadline is approaching.

A Department of Education spokesperson confirmed that 1.5 million of the 7.5 million borrowers on the SAVE plan had selected a new repayment plan as of Monday morning, "allowing them to make progress toward paying down their balances and access loan discharge benefits that current SAVE borrowers are missing out on." SAVE was a Biden-era repayment plan that offered borrowers lower monthly payments and a shorter timeline for debt relief.

The Trump administration eliminated the plan this spring.

Beginning July 1, servicers started notifying enrolled borrowers of their 90-day timeframe to either switch to a new plan or be placed in a standard plan with the highest payments.

The 90-day deadline for the first batch of borrowers is approaching on September 29.

Servicers said they expect to send notices to all SAVE borrowers by the end of 2026.

Ayelet Sheffey covers all things student debt, from the latest Education Department news to stories of borrowers navigating their loans.

To stay up to date on her coverage, sign up to get email alerts for her new stories here .

What's next for SAVE borrowers About 80% of SAVE borrowers still haven't left the plan.