If you're a student loan borrower currently on the Saving on a Valuable Education repayment plan, which is still blocked by a court injunction, you may be considering switching to a different income-driven repayment plan.

After a two-month hiatus, the online application for IDR plans is back, but options remain limited. For most SAVE borrowers, it's wise to stay put and see what happens rather than make a change. However, there are a few scenarios where it could be beneficial to move your student loans from the SAVE repayment plan. 

We talked to three student loan experts to find out when it backs sense to stick with SAVE and when it doesn't.

What's going on with the SAVE student loan plan? 

The Biden-Harris administration launched the SAVE plan in the summer of 2023 to offer borrowers lower monthly repayment terms and a path toward student loan forgiveness. A replacement for the REPAYE plan, SAVE aimed to cut payments in half for undergraduate borrowers and offered loan forgiveness in as little as 10 years rather than the usual 20 or 25. 

Earlier this year, two separate groups of Republican-led states sued to block the SAVE plan. One case successfully obtained an injunction from a federal court, which put SAVE on hold. Due to this injunction, loan servicers can't bill SAVE borrowers at the required amount and have instead put all SAVE loans into a general forbearance. 

"Borrowers in the SAVE repayment plan are currently in an interest-free forbearance," said financial aid expert Mark Kantrowitz. "This means that they do not lose any money by being in the plan. The only thing they lose is time, since months in forbearance do not count toward forgiveness."

While the forbearance may offer a welcome financial break for some borrowers, others may not appreciate that they're not receiving credit toward loan forgiveness through the IDR debt relief path or programs like Public Service Loan Forgiveness. 

Read more: Student Loan Forgiveness on Hold Again. Experts Explain What's Next for Debt Relief

Most SAVE borrowers should stay put

The future of the SAVE repayment plan is up in the air, but jumping ship to an alternative plan may not be worth it, experts say. For one, changing plans could increase your borrowing costs.

"Changing plans may result in an increase in the borrower's monthly payment, as well as additional interest accrual," said student loan lawyer Adam Minsky. 

Megan Walter, senior policy analyst at the National Association of Financial Aid Administrators, also warned against changing plans if you've already met the qualifying payment requirement for IDR loan forgiveness. If SAVE is approved, you'll be able to see debt relief faster if you stay on this plan.

Currently, your options for other income-driven repayment plans are also limited. Even though the online application is available again, most borrowers can only access the Income-Based Repayment plan. 

Loan servicers are not processing new enrollments for the PAYE plan, and only borrowers with a consolidation loan that repaid a parent PLUS loan can get on Income-Contingent Repayment. 

There are also significant processing delays, and borrowers who try to make a change could end up in a 60-day processing forbearance, during which interest charges will accrue. 

"The court cases will eventually be resolved," said Kantrowitz. Although there's no telling how long it will take, Kantrowitz predicts that it should take less than a year for the courts to reach a conclusion.

Read more: Student Loan Payment Pause Extended for 6 More Months for SAVE Borrowers

Understanding the PSLF Buy-Back program

Although borrowers caught up in the SAVE plan's general forbearance are not making progress toward Public Service Loan Forgiveness, they now have the option of "buying back" PSLF credits. 

As the "buy back" name suggests, you'll be able to make a lump-sum payment for any months you missed during the forbearance. For example, if your monthly payments are usually $150 and are on hold for nine months, making a payment of $1,350 once the pause is lifted will bring you nine months closer to forgiveness.

In particular, you can buy back your credits if you: 

• Spent time in an eligible forbearance or deferment status while maintaining PSLF-eligible employment 
• Have outstanding balances on your loans 
• Have reached the point where buying back those months will complete your 120-payment requirement for PSLF