Income-driven IDR plans like IBR and RAP could reduce US student loan payments: Here’s what to know

Many US student loan borrowers could soon benefit from lower monthly payments as the Department of Education finalises changes to income-driven repayment plans. The Income-Based Repayment plan (IBR) will no longer require proof of financial hardship, allowing higher earners to qualify. From July 1, 2026, the new Repayment Assistance Plan (RAP) will also offer lower bills and extended forgiveness. Borrowers can switch plans without losing progress toward loan cancellation, with tools available to compare payments.

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