Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blog
Major student loan changes are coming July 1, 2026. New borrowers will only have two repayment options — Standard or the new Repayment Assistance Plan (RAP). All other income-driven repayment plans (IBR, PAYE, SAVE) are being eliminated for new loans.
The Grad PLUS program is also being eliminated, and Parent PLUS loans are getting capped at $20,000 per year.
Anyone with a Parent Plus loan now — must have consolidation completed before July 2026 in order to obtain an income driven plan.
These are changes you need to be aware of – they can create new opportunities to minimize your payment, and they create new pitfalls to avoid.
As attorneys, we are taught to optimize the current situation, but keep in mind what happens if things go downhill. What if you lose your job? What if inflation continues to cause other expenses to increase? Talk to us now and plan for these changes. If they don’t happen, great, you will be in the best plan possible.
Remove your fear of what could happen.
