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Scripps News

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

Scripps News · New
Scripps News
Scripps News
New

The Trump administration's "Big Beautiful Bill" means big changes to student loans. Here's what current and future borrowers need to know

BreakdownGenerated by LeadStory AI
  • Several existing repayment plans, including Pay As You Earn and SAVE, will be phased out by July 2028. 33s
  • Borrowers will transition to a new Repayment Assistance Plan (RAP), which is expected to raise monthly payments. 1m 0s
  • New borrowers face stricter borrowing caps and are limited to two repayment plans. 1m 30s
  • Borrowers can now rehabilitate out of default twice instead of once. 1m 25s
  • Existing borrowers who consolidate loans after July 2026 will be treated as new borrowers. 2m 1s
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