Borrowers with federal student loans face critical deadlines to transition from old repayment plans before new rules take effect, with the chance to lower monthly payments or secure a temporary interest rate cut. The Trump-era standard repayment and income-driven plans are set to expire, forcing borrowers to select a new option—though some may qualify for a reduced interest rate if they act quickly. Confusion and urgency surround the shift, as borrowers weigh their choices amid financial uncertainty. Those affected must act before deadlines pass to avoid higher costs or missed opportunities for relief.
Student loan borrowers are in a race against the clock to keep their payments as low as possible as they navigate upcoming deadlines to get out of old repayment plans, choose a new one and potentially receive a temporary reduction in their loans’ interest rate. The Trump administration's standard repayment plan and Repayment Assistance Plan...
