In this episode of the Sunlight Tax podcast, I break down the One Big Beautiful Bill Act and what it means for student loan borrowers. Learn about the new student loan borrowing limits, updated repayment plans, and the challenges facing legacy borrowers under the new law.
If you're navigating student debt, education financing, or tax law changes, this episode gives you the clarity and resources you need to make informed financial decisions.
Also mentioned in today's episode:
01:00 Introduction to the One Big Beautiful Bill Act
06:42 New Borrowing Caps and Repayment Plans
13:31 Navigating Legacy Borrower Challenges
Takeaways
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New student loan borrowers will have only two repayment options after July 2026.
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The SAVE program is ending, impacting many borrowers.
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New lifetime caps on borrowing for education will be implemented.
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Half a million borrowers may see increased payments due to changes.
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Low and middle-income students may struggle with graduate school costs.
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The RAP plan offers more flexible repayment options for borrowers.
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It's crucial to stay informed through reliable resources and articles.
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Navigating student loans requires careful consideration and action.
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Other Sunlight Tax podcast episodes about OBBBA:
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Unpacking Trump's New Tax Law: What You Need to Know About the One Big Beautiful Bill Act
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Breaking Down Trump's New Tax Law: Cars, New Loan Interest Deduction, and Expiring Energy Credits
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New Tax Bill: No Tax on Tips, No Tax on Overtime, and New Deduction for Seniors
Links:
Help article by Tara Siegel Bernard from the New York Times
This article on the NPR website, by Cory Turner
Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed.
Link to pre-order my workbook, Taxes for Humans: The Workbook
Get your free visual guide to tax deductions
Check out my program, Money Bootcamp
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