<ul data-eligibleForWebStory="false"><li>The Trump administration is restarting interest charges for student-loan borrowers on the Biden's SAVE repayment plan, affecting nearly 8 million enrolled borrowers.</li><li>Interest charges for borrowers on the SAVE plan will begin accruing again on August 1 after being paused for a year due to litigation.</li><li>The Department of Education is encouraging borrowers to switch to a different income-driven repayment plan as the SAVE plan has faced legal challenges and has been blocked since July 2024.</li><li>The decision to restart interest charges has drawn criticism from borrower advocates, who argue that it will result in increased monthly costs for borrowers.</li></ul>

8 million student-loan borrowers on Biden's SAVE repayment plan are about to see their balances grow

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