Millions need to take action as student loan deadline quickly approaches

The deadline for millions of people with the student loan SAVE plan is quickly approaching. Those who don’t switch by the end of September could see their bills double or even triple.

Because your money matters, we’re looking into the best way to prepare financially.

April Sanderson, a certified student loan counselor with LSS Financial Counseling, says you should review the available plans.

“First and foremost, go to studentaid.gov,” Sanderson said. “Use the repayment calculator to where you can see exactly what your payment options are going to be moving forward. The deadline for millions of people with the student loan SAVE plan is quickly approaching. Those who don’t switch by the end of September could see their bills double or even triple.

If you don’t apply for a new plan, the government will automatically enroll you in one that includes fixed monthly payments,...