Financially Savvy Futures

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Financially Savvy Futures A nonprofit focusing on sharing information about how to finance one's educational goals.

09/28/2026

What just happened to federal student loan repayment plans?


Comment your plan and we'll tell you what changes.
Which plan are you on right now — SAVE, IBR, PAYE, ICR, or no idea?
The One Big Beautiful Bill Act, signed July 4, 2025, restructured federal student loan repayment. It eliminated SAVE, PAYE, and ICR for new enrollees starting July 1, 2026, expanded IBR access, and introduced the new Repayment Assistance Plan (RAP) launching that same date. Existing borrowers have a transition window, but action is required before key deadlines.

09/27/2026

What is the One Big Beautiful Bill Act?


Comment yes or no. We want to know how well this got communicated.
Had you heard of OBBBA before this video?
The One Big Beautiful Bill Act (OBBBA) is a federal budget reconciliation law signed on July 4, 2025. It abolished SAVE, phased out PAYE and ICR, removed the partial financial hardship requirement from IBR, created the new Repayment Assistance Plan (RAP), and confirmed RAP payments count toward PSLF. It is the most sweeping overhaul of federal repayment options in over a decade.

09/26/2026

Which repayment plans are being eliminated?


Comment your plan. We'll reply with your deadline.
Is your plan on the chopping block? Which one are you on?
SAVE was terminated when the OBBBA was enacted and vacated by a federal court on March 10, 2026. PAYE and ICR stop accepting new enrollments July 1, 2026 and sunset entirely by July 1, 2028. Borrowers currently on PAYE or ICR can remain until 2028, but should evaluate switching to IBR or RAP before those plans close permanently.

09/25/2026

When do the student loan changes take effect?


Comment the date you need to remember.
Which deadline hits you first — June 30, July 1, or 2028?
SAVE was vacated March 10, 2026. PAYE and ICR close to new enrollees July 1, 2026 and disappear July 1, 2028. RAP launches July 1, 2026. New borrowers taking out loans on or after July 1, 2026 can only access RAP. Parent PLUS borrowers must consolidate by June 30, 2026 to preserve any IDR access.

09/24/2026

Do new rules affect existing borrowers differently?


Comment before or after. We'll tell you which plans you get.
Did you borrow before or after July 1, 2026?
Existing borrowers (loans before July 1, 2026) keep access to IBR, PAYE, and ICR through their sunset dates and can enroll in RAP. New borrowers (first loan on or after July 1, 2026) can only use RAP or Standard Repayment—no IBR, no PAYE, no ICR. This distinction will define repayment strategy for millions of borrowers for years.

09/23/2026

What repayment plans are available after July 1, 2026?


Comment RAP or IBR and we'll break down the math.
Which plan are you planning to land on — RAP or IBR?
After July 1, 2026: RAP is available to all borrowers. IBR remains open to borrowers who first borrowed before July 1, 2026. PAYE and ICR remain available to eligible existing borrowers until July 2028. Standard, Graduated, and Extended plans are unchanged. New borrowers from July 2026 onward have only RAP and Standard as viable options.

09/22/2026

Will PSLF still exist after the new law?


Comment your payment count. We'll tell you what to certify.
Going for PSLF? How many qualifying payments are you in?
PSLF was not eliminated by the OBBBA. The 120-payment, 10-year structure and tax-free forgiveness remain intact. The law added RAP as a qualifying plan and a new employer eligibility rule—but fewer than 10 employers per year are expected to be affected. The core PSLF program is unchanged.

09/21/2026

Should existing borrowers panic about losing protections?


Comment your group. Parent PLUS is the one we worry about.
Which group are you in — SAVE, PSLF, or Parent PLUS?
Not exactly—but complacency is dangerous. SAVE borrowers need to move now. PSLF seekers should certify employment immediately. The most at-risk group is Parent PLUS borrowers who must consolidate by June 30, 2026 or permanently lose IDR access. Know your plan, know your deadline, and act before July 1, 2026.

09/20/2026

What was the SAVE plan?


Comment SAVE if you were. We're tracking where people got moved.
Were you ever on SAVE?
SAVE (Saving on a Valuable Education) was an income-driven repayment plan introduced by the Biden administration to replace REPAYE. It offered payments as low as 5% of discretionary income for undergrad loans, plus interest subsidies preventing balance growth. It was challenged in court and ultimately vacated on March 10, 2026, after the OBBBA formally terminated it.

09/19/2026

Why was SAVE eliminated?


Comment what you were told. We've heard a lot of different answers.
Did your servicer ever explain why your plan disappeared?
SAVE faced legal challenges from Republican-led states arguing the Biden administration exceeded its authority. Courts placed it under a payment-pause injunction, and the OBBBA signed July 4, 2025 formally eliminated it. A federal court vacated the underlying rule on March 10, 2026, making its termination permanent.

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