Any student loans left on the SAVE plan will start accruing interest on Aug. 1, but they'll remain in a general forbearance.

At the end of next week, nearly 7.7 million student loan borrowers who have been in a zero-interest forbearance under the Saving for a Valuable Education repayment plan will see their balances grow monthly again.

The landscape of federal student loans in the United States is undergoing significant changes, causing uncertainty and concern among millions of borrowers.