Student loan borrowers will have fewer repayment options as Senate passes big changes, millions likely to be impacted

The US Senate passed the "One Big Beautiful bill," impacting higher education significantly. The legislation revamps student loan repayment plans, loan amounts, and deferment options, potentially leading to fewer choices for future borrowers. College programs could lose loan eligibility if graduates don't meet earnings thresholds, while popular income-driven repayment plans are phased out for a new Repayment Assistance Plan.