A big financial hit could be coming for student-loan borrowers, a new report says.
On Monday, the Center for American Progress, a left-leaning think tank, released a report showing how President Donald Trump’s student-loan repayment overhaul will affect bills and relief for millions of borrowers. The think tank shared the report exclusively with Business Insider.
The student-loan changes, signed into law in Trump’s “big beautiful” spending legislation, took effect July 1 and included new income-driven repayment plans and borrowing caps. Borrowers moving from the Biden-era SAVE plan to the new Repayment Assistance Plan, or RAP, could see their student-loan bills increase by $2,163 annually on…