Debt
Federal Student Loan Overhaul Takes Effect July 1 — What Borrowers Must Do Now
via NPR
The Biden-era SAVE repayment plan ends July 1 and is replaced by the new Repayment Assistance Plan, which caps monthly payments at 1%–10% of adjusted gross income with forgiveness after 30 years. The roughly 7 million borrowers still enrolled in SAVE who take no action will be automatically moved into a less flexible repayment option.
Why it matters
If you hold federal student loans, contacting your servicer this week to choose a repayment plan can prevent steeper automatic payments from starting this fall.


