July 1 deadline: Parent PLUS loan borrowers must act now to save on repayment
By
Terry Savage
Summary
Parent PLUS loan borrowers face a July 1 deadline to enroll in income-based repayment plans before they disappear due to the One Big Beautiful Bill Act of 2025. After this date, borrowers will be forced into a standard 10-year repayment plan with higher monthly costs. The article urges parents to act quickly, noting that income caps for enrollment have been removed, making almost every parent eligible for savings. It also highlights that parents working in public service may qualify for Public Service Loan Forgiveness (PSLF) if they act before the deadline.
Source
bskyJuly 1 deadline: Parent PLUS loan borrowers must act now to save on repaymentchicagotribune.comKey quotes
· 3 pulledTime is running out for Parent PLUS college loan borrowers to access money-saving repayment deals.
If you miss the July 1 deadline, you will be forced into a standard 10-year repayment plan with high monthly costs instead of affordable income-based payments.
Since there is no longer a cap on income to enroll in income-based repayment plans, almost every parent can save a small fortune by acting now.
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