Students Advised on Overhaul of Federal Student Loans, Including Phased-Out IDR Plans

Students are being informed about significant changes to federal student loans stemming from the 'One Big Beautiful Bill Act' (OBBBA). These changes include the phasing out of most income-driven repayment (IDR) plans, such as SAVE, PAYE, and ICR, leaving new borrowers with a modified standard plan and a new Repayment Assistance Plan (RAP). The Office of Financial Aid emphasizes providing accurate information and support through this transition.