The Department of Education reopened two older repayment plans on Wednesday so borrowers can continue to repay their student loans.

Borrowers can now apply for the Income-Contingent Repayment (ICR) plan and Pay As You Earn (PAYE) until July 1, 2027.

These plans have been opened to provide more options to borrowers enrolled in the Saving for a Valuable Education (SAVE) plan and who were placed in forbearance after a federal court ordered that student loan forgiveness be paused.

While in forbearance, payments are not due, and interest will not accrue. However, borrowers cannot make qualifying payments toward loan forgiveness and have been in limbo while the court case continues. The department said forbearance will be lifted once borrowers are enrolled in ICR or PAYE.

What Are These Two Options?

While the two reinstated options may not be as generous as the SAVE plan, they could help borrowers in various situations. Experts said some options may be better than others, depending on a borrower's needs and situation.

The Department of Education said the PAYE plan provides the lowest monthly payments to most borrowers. The ICR plan has an alternative formula to calculate monthly payments, which could provide lower payments for those whose debt is "low relative to their income."

Borrowers can enroll for either of the income-driven repayment plans here.