A new federal law is bringing major changes. Most of them won’t take effect until July 2026 or later, but here are a few things the National Consumer Law Center (NCLC) suggests you do now:
- Update your contact information on StudentAid.gov and with your loan servicer.
- If you’re on the SAVE plan, prepare for possible payment increases. You can use the Student Loan Simulator to get an idea of how much your monthly payment might be with the Income-Based Repayment (IBR) plan. This plan will still be an option for people who already have loans.
- If you have Parent PLUS loans, you may want to consolidate them into one loan. This may help you qualify for the Income-Contingent Repayment (ICR) plan to preserve your eligibility to make payments based on your income.
If you want to learn more, the NCLC Student Loan Borrower Assistance site breaks it all down, so you know what’s changing and what to do next.
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