Trump's Student Loan Repayment Overhaul Introduces New Borrowing Caps
President Trump's student loan repayment overhaul, set to take effect in July, introduces new borrowing caps for students and parents. The changes aim to simplify the repayment system and curb excessive borrowing. However, they have raised concerns among advocates and Democratic lawmakers about potential financial strain on borrowers. The overhaul also eliminates the SAVE repayment plan, which offered lower monthly payments and a shorter timeline to loan forgiveness. Some borrowers may qualify for exceptions to the new limits if they meet specific criteria.