New Repayment Plan Set To Transform Student Loans. Find Out If Your Costs Will Increase or Decrease

Table of Contents Expand Table of Contents A new income-driven repayment plan is set to lower total costs for many student loan holders but raises monthly payments for low-income borrowers. The "One Big, Beautiful Bill" Act introduced the new income-driven Repayment Assistance Plan, also known as RAP, which is expected to open for enrollment by July 1, 2026. The bill also eliminates all other existing income-driven plans for borrowers in three years. However, borrowers who take out loans before July 1, 2026 ...