In Reply to: Don'r you know that he's Toxic posted by mh on July 02, 2026 at 08:09:51
Changes to federal student loans expected to affect millions of borrowers took effect July 1. A part of President Donald Trump’s “Big Beautiful Bill,” these changes mean the end of some payment plans and new limits for graduate loans.
Along with the end of the Biden-era SAVE plan, the changes are expected to raise the cost of payments for millions of borrowers.
“The main concern is the affordability of monthly payments. I think a lot of people are simply going to see their payment increase significantly and they’re either going to have to stretch pretty significantly to make that payment work or they’re not going to be able to make the payment,” said Michele Zampini, an associate vice president at The Institute for College Access & Success.
Around 9 million Americans are in default on their federal student loans as of June, according to the Education Department. Hundreds of thousands more are behind on loan payments and at risk of default this year.
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But at least the billionaires still have their tax cuts.