Changes are coming to the student loan repayment system, with several key dates for new and current borrowers to remember. President Donald Trump signed his tax bill into law earlier this month, which introduced several changes to the student loan repayment system.

Under Trump's "One Big Beautiful Bill," as of July 1, 2026, new federal student loan borrowers will have just two repayment options: a standard repayment plan and an income-driven repayment plan called the Repayment Assistance Plan (RAP).

Student loan restrictions in the new Republican tax and spending law could exacerbate the student loan crisis, and deepen racial and gender wealth gaps.