Will Trump's "big, beautiful bill" affect my student loans?

Asked 8 hours ago

Answer

Trump's 'big, beautiful bill' will significantly affect student loans by phasing out current repayment plans, raising payments, and limiting options for both current and new borrowers.

References

The 'big, beautiful bill's' impact on student loans

Scripps News

9 hours ago

The 'big, beautiful bill's' impact on student loans

Borrowers will have fewer repayment options, pay more, and often pay for a longer period under the new rules.

The 'big, beautiful bill's' impact on student loans

Scripps News

9 hours ago

The 'big, beautiful bill's' impact on student loans

Three repayment programs—Pay As You Earn, Income Contingent Repayment, and SAVE—are being phased out by July 2028.

The 'big, beautiful bill's' impact on student loans

Scripps News

9 hours ago

The 'big, beautiful bill's' impact on student loans

Repayment plans will migrate to a new Repayment Assistance Plan (RAP), which is expected to raise monthly payments by applying a percentage to your entire adjusted gross income.

The 'big, beautiful bill's' impact on student loans

Scripps News

9 hours ago

The 'big, beautiful bill's' impact on student loans

New borrowers will be limited to two repayment plans and face stricter borrowing limits, especially for parents and graduate students.

The 'big, beautiful bill's' impact on student loans

Scripps News

9 hours ago

The 'big, beautiful bill's' impact on student loans

Existing borrowers who consolidate loans after July 2026 will be treated as new borrowers, reducing their options.

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