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Student loan payments will soar if borrowers don’t act soon, but glitches abound

 What to know

Millions of federal student loan borrowers face higher payments if they don't exit the defunct Save plan. The Education Department will automatically move borrowers to a more expensive plan if they do not select one themselves, but system glitches complicate the selection process. Borrowers report conflicting information and limited access to payment histories. The department urges action, with 75 percent of borrowers notified. Only 18 percent have left Save since March.

Summary is AI-generated, newsroom-reviewed.

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