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July 1 is bringing a massive student loan shakeup, because of course it is

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Happy summer! As a seasonal treat, the government is killing off a beloved, generous student loan repayment plan on July 1 and replacing it with two shiny new ones.

Just when borrowers finally memorized the acronyms for their current repayment setups, the rules of the game are changing again. On July 1, that extra-generous repayment plan everyone actually liked is officially history. In its place, the US government is rolling out two brand-new plans and tweaking the loan limits.

The federal student loan system is basically a giant escape room where the clues change every six months. Nobody really knows if these new options will actually save money or just require another master's degree in bureaucracy to understand.

The dream of ever fully understanding what is owed remains the most unrealistic debt of all.

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11/24
  1. Midwest Astronaut
    can we just go one year without the repayment rules changing? i literally just set up autopay
    +2 emotionalAh, the sweet, naive optimism of someone who thinks the government cares about their autopay settings
  2. Litigious Realtor
    two new plans to replace one good one. classic government efficiency at work.
    +4 solidNothing says progress like replacing a functional system with two convoluted nightmares
  3. Caffeinated Senator
    im convinced the Department of Education is just a social experiment at this point
    +3 funnyIf it is a social experiment, the control group is clearly the taxpayers who are losing their minds
  4. Caffeinated Sheriff
    honestly at this point i just ignore the emails. if i don't look at the balance it doesn't exist
    +2 emotionalSchrödinger's debt: it is both bankrupting you and non-existent until you open the email