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GOP Budget Bill Reduces Student Loan Repayment Options and Limits Borrowing. What You Need to Know
- The House passed President Donald Trump's student loan reform bill on July 3, 2025, limiting repayment options and borrowing caps nationwide.
- The bill follows prior federal changes including the COVID-19 moratorium, Biden’s halted loan forgiveness, and Republican-led repayment revisions.
- It simplifies repayment options to two choices starting July 1, 2026: the traditional standard plan and a newly introduced Repayment Assistance Plan that calculates payments based on income, while also imposing borrowing limits on parents and graduate students.
- Borrowers will lose deferral rights for unemployment or hardship, face forbearance limits of nine months per 24-month period, and gain two rehabilitation chances for defaulted loans.
- These changes could increase annual borrower payments by about $3,000, limit federal borrowing, and shift repayment burdens, while the bill’s House passage sends it to Trump for signature.
13 Articles
13 Articles
How Trump's big spending bill will overhaul repayment for millions of student-loan borrowers
President Donald Trump's spending bill overhauls student-loan repayment.Joe Raedle/Getty ImagesCongress passed Trump's "big beautiful bill" on July 3.It includes major changes to student-loan repayment and caps on borrowing.It eliminates existing income-driven repayment plans, including SAVE, replacing them with just two options.It could soon get harder for student-loan borrowers to get affordable monthly payments.Congress passed President Donal…
Smart Ways To Afford College Without Drowning in Debt
The financial aspect of attending college can often be one of the most overwhelming parts of the higher education experience. Between tuition, fees, textbooks, housing, food, and extracurricular expenses, the costs can quickly add up, leading many students and their families to feel anxious about how to manage it all. However, with careful planning, resourcefulness, and strategic thinking, students can ease the financial burden and make the most…
The 5 huge changes coming for student-loan borrowers and colleges under GOP megabill
“From repayment plans to smaller loans: Some of the most significant change we’ve seen in higher education in a couple of decades.” Article Attribution | Read More at Article Source The post The 5 huge changes coming for student-loan borrowers and colleges under GOP megabill appeared first on RocketNews.
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