Show Notes
This episode of Coin Flip breaks down what 7.5 million student loan borrowers enrolled in the SAVE plan need to do before the roughly September 30, 2026 deadline. The SAVE plan was struck down by a federal court in March 2026, and anyone who misses the window to switch plans will be automatically moved to Standard Repayment, which carries the highest monthly payments of any available option.
Host Derek Wu walks through the three repayment plans now available to SAVE borrowers, explains how each one calculates monthly payments differently, and provides a practical decision framework to help listeners identify the right fit based on their income, family size, and forgiveness timeline. He also covers a separate hard deadline that Parent PLUS loan holders cannot afford to miss.
- RAP (Repayment Assistance Plan) launches July 1 and uses a sliding income-based formula, with built-in interest cancellation and a $50 monthly principal match guarantee.
- IBR (Income-Based Repayment) is the primary alternative for most existing SAVE borrowers, with a July 2028 enrollment deadline and a broader definition of family size that can lower payments for some households.
- Tiered Standard Plan may result in lower total repayment costs for borrowers who can handle fixed monthly payments and are not pursuing forgiveness.
- The IDR application backlog exceeded 576,000 requests as of February 2026, meaning borrowers who act now are more likely to be processed before the deadline than those who wait.
- Parent PLUS loan holders face a July 1 consolidation deadline, after which they permanently lose access to income-driven repayment options.
If you have questions about a financial decision you are facing, leave a note in the reviews. Subscribe to Coin Flip so you have the information you need before the next deadline arrives.
More from Coin Flip
The Federal Reserve raised rates in September and meets again on October 28. In this episode, host Derek Wu skips the rate-prediction guessing game and offers one savings rule designed to work whether the Fed holds or hikes. He compares high-yield savings accounts with 12-month CDs, walks through a no-spreadsheet CD ladder, and explains what to do when a promotional rate expires.
Treasury resets the I bond fixed rate on November 1, and whatever it is gets locked in for the life of the bond. In this episode, Derek Wu lays out the buy-now versus wait decision at the current 0.90% fixed rate, then offers one simple filter for choosing between I bonds, a high-yield savings account, or a CD.
ACA open enrollment begins November 1, and for people who buy their own health insurance, doing nothing is still a decision. In this episode, Derek Wu explains how auto-renewal can re-enroll you in a plan that costs more or no longer fits, and why the default is effectively a choice someone else makes for you.
Medicare's Annual Enrollment Period runs October 15 through December 7, and doing nothing means your current plan and premium automatically renew. Derek Wu breaks down what's driving 2027 changes, including a projected Part B premium increase and a finalized Medicare Advantage payment update, and offers a simple way to decide whether to stick with your plan, switch, or move between Original Medicare and Advantage.
Social Security's 2027 cost-of-living adjustment will be officially announced on October 14, but early estimates from AARP and the Senior Citizens League are already circulating -- and they don't agree. This episode breaks down why those projections differ, why the headline COLA percentage isn't the full story once Medicare Part B premiums are factored in, and what listeners should actually do depending on whether they're already claiming benefits or still deciding when to start.