Many student loan borrowers could see their monthly bills more than double now that the Biden-era Saving on a Valuable Education, or SAVE, plan is defunct.

An Education Department spokesperson said the lowest monthly payment option was the SAVE Plan, a Biden-era plan that would cap payments at 5 percent of the borrower’s discretionary income for undergraduate loans and 10 percent for graduate loans. It has been blocked by the courts since June 2024.