Three Dates That Will Reshape Federal Student Loans This Summer

Federal student loans are set for sweeping changes this summer: June 15 will bring discharge notices for the last group of Sweet v. McMahon Borrower Defense applicants; June 30 is the consolidation deadline for Parent PLUS loans to preserve IDR eligibility and forgiveness options; and July 1 introduces the RAP repayment plan, winds down the SAVE plan, and imposes new PSLF limits plus a Tiered Standard option, so borrowers should consolidate by June 30 if possible and get ready for tighter repayment and forgiveness rules going forward.