The second Trump administration has ushered in many changes for student loan borrowers. These changes include, as part of the budget reconciliation bill, a brand-new repayment plan: The Repayment Assistance Plan (RAP), which will replace existing income-driven repayment plans.

Although this does streamline the sometimes confusing array of current choices — and maintain a repayment option that modifies monthly payments based on income — it has some features that borrowers might not find quite as favorable. In short, said NerdWallet , "while some borrowers might have lower monthly bills on RAP compared to existing income-driven repayment plans , they may also see a longer repayment term and pay more overall."

How are payments calculated under the Repayment Assistance Plan?

Unlike

See Full Page