Student Loan Shake-Up Hits July 1: SAVE Plan Officially Ends, New Repayment Options and Limits Take Effect

International Business Times

The overhaul stems from the One Big Beautiful Bill Act, signed into law last year, which the Trump administration has framed as an effort to streamline a federal student loan system that, until now, offered borrowers seven different repayment plans to choose from.

Parent PLUS borrowers are among those facing the steepest changes. Betsy Mayotte, president and founder of The Institute of Student Loan Advisors, said her organization has been fielding a steady stream of distress from affected families.

“It’s heartbreaking … we’re getting emails from Parent Plus borrowers almost every day,” Mayotte said.