Student loan borrowers should start preparing for July 1, 2026, when specific provisions of President Donald Trump’s “One Big Beautiful Bill” go into effect, marking changes from the Higher Education Act of 1965 and limiting options for borrowers on income-driven repayment (IDR) plans. The new Repayment Assistance Plan (RAP) will be the only choice, apart from the standard repayment plan, for new borrowers as well as existing borrowers who reconsolidate or take out new loans.
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