New Student Loan Plan: Higher Payments for Some
Update: 2025-12-02
Description
The Repayment Assistance Plan (RAP), set to launch in 2026, could significantly alter loan repayment for many. While it aims to help, lower-income borrowers may face higher monthly payments. The plan is part of the One Big, Beautiful Bill Act, which will eliminate existing income-driven plans within three years. New findings show that some borrowers could pay tens of thousands more under RAP, while those with average incomes may see similar total payments. The new plan extends forgiveness repayment period from 20 to 30 years for some. Understanding individual financial impact is crucial.
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