Makes Education More Expensive

Takes Effect as Soon as July 2026

If you are a college student, this bill will make it harder for you to finance your education.

The following changes have been made:

  • Eliminates the following programs: Graduate PLUS loans, Saving on a Valuable Education (SAVE), Income-Based Repayment (IBR), Income Contingent-Repayment (ICR), and Pay as You Earn (PAYE) Repayment.
  • Changes to Parent PLUS loans: Caps Parent PLUS loans at $65,000 for each child and makes them ineligible for repayment programs.
  • Creates New Student Loan Repayment Plans: Offers future student loan borrowers only two options for repayment plans: a standard plan and the Repayment Assistance Plan (RAP). RAP may cause unpredictable spikes in monthly payments and includes a penalty for married borrowers. 
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