Students logging into their student loan servicer accounts may not be able to see their progress in loan forgiveness payments after the Department of Education stalled payment counts.

SAVE Borrowers, Your Student Loans Will Start Accruing Interest Again on Aug. 1: What to Know Nearly 8 million borrowers will be notified starting as early as July 10 to select a new payment plan.

The Education Department said it will soon begin reaching out directly to the nearly 7.7 million borrowers currently enrolled in the SAVE Plan, with instruction on how to begin making payments again.

Key Points ・The student loan interest deduction can reduce your taxable income by up to $2,500 per year. ・You do not need to itemize deductions to claim it, but income limits apply. ・Many borrowers save $200 to $500 per year depending on their tax bracket and interest paid.

Taxpayers will see a number of new credits and deductions when they file their taxes in 2026. Here's when other "big beautiful" bill provisions go into effect.