Student Loan Changes Launch July 1: What Borrowers Need to Know and How to Prepare

Investopedia

Under the “One Big, Beautiful Bill,” the RAP is the only income-driven plan available to college students who borrow federal student loans after July 1.
Monthly payments will be calculated based on 1% to 10% of their income, depending on their earnings, and borrowers can subtract $50 per dependent child per month. (Borrowers can estimate their specific monthly payment using this calculator from The Institute of Student Loan Advisors. Borrowers will be able to view the RAP plan on the Federal Student Aid’s Loan Simulator on July 1.)