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Department of Education Announces New Rules on Student Loans
The Department of Education announced changes to its Income-Based Repayment (IBR) plan. Borrowers previously needed to prove a “partial financial hardship” to enroll in the IBR program. The One Big Beautiful Bill eliminated this requirement and the change is expected to go into effect this month, per the Department of Education’s website.
The Reimagining and Improving Student Education (RISE) Committee also came to consensus on several new rules regarding student loans. Borrowers in the Repayment Assistance Program (RAP) will not face a marriage penalty, different from current income-driven repayment plans. RAP is scheduled to launch in July 2026.
The One Big Beautiful Bill’s new standard repayment plan will give borrowers a repayment period of between ten and 25 years. The current standard plan only permits ten-year repayment periods. The department established a new minimum monthly payment amount of $50 for the new standard repayment plan.
Read about these and more updates in Forbes.
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