On November 3, voters pick a new Congress. That Congress will shape loan rules for 43 million borrowers.
Americans owe over $1.7 trillion in federal student loans. The next Congress will decide what comes next.
The One Big Beautiful Bill Act rewrote student loan rules. President Trump signed it on July 4, 2025.
SAVE, Pay As You Earn, and Income-Contingent Repayment shut down. These plans tied bills to income.
The Repayment Assistance Plan takes 1 to 10 percent of income. Repayment can last up to 30 years.
The lowest payment is now 10 dollars a month. That rule applies even with zero income.
A tax break ended on December 31, 2025. Forgiven loan debt now counts as income.
After 25 years of payments, the rest is forgiven. The tax on that sum could reach tens of thousands of dollars.
President Trump can veto any bill. Congress lacks the votes to override him.
Bills to cut rates to 2 percent or zero are waiting. Another would allow federal refinancing.
Tap below for the full story: what changed, what it costs, and what borrowers can do now.
Get the full breakdown, key numbers, and what happens next.
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