US student debt repayment system is being overhauled – here’s what to know

The US student loan repayment system is undergoing a significant overhaul starting July 1st, impacting millions of American borrowers. This reform is a result of the Trump administration's "One Big Beautiful Bill Act," signed last summer, and a recent court ruling that terminated the Biden-era Save repayment plan. Borrowers will now face stricter payment timelines and reduced opportunities for debt forgiveness. This represents the latest in a series of substantial changes to the student loan system implemented over the past few years, making it crucial for borrowers to understand the new regulations.