The American student loan repayment system is set to undergo a significant overhaul next month, changing the way millions of borrowers pay off their debt.
The series of changes, which take effect on 1 July, are a result of the Trump administration’s One Big Beautiful Bill Act that was signed last summer and a recent court ruling that ordered the end of the Biden-era Save repayment plan. Borrowers will be facing stricter payment timelines and less forgiveness, what will be the latest in a series of big changes to the student loan system in just a few years.
