(InvestigateTV) - Starting July 1, the 7. 5 million people enrolled in the SAVE student loan repayment plan will have 90 days to pick a new plan.

Robert Farrington, the founder of The College Investor, said this is part of a court settlement agreement, and emails will be sent out on July 1 to everyone who is currently on the SAVE plan."Borrowers that don't pick a new repayment plan will be moved to the standard repayment plan. So, payments will be due one way or another in October or so of 2026. Of course, if borrowers don't start making payments when they default into the standard plan, they move down the path of delinquency and default," Farrington said.

Check loan servicer for updatesFarrington said StudentAid.gov has put a banner at the top of the website warning about the change.