Federal student loan borrowers who enrolled in President Biden's SAVE income-driven repayment plan have been in an interest-free forbearance for nearly a year.

Although interest will restart next month, borrowers enrolled in SAVE remain in a general forbearance -- for now. If you're in PSLF, pursuing forgiveness or unable to afford your monthly payment, you have some options.

Education Secretary Linda McMahon, in a statement, urged "all borrowers in the SAVE Plan to quickly transition" to a different loan program.