By next summer, new borrowers will have just two repayment options, streamlining the previous menu to pay off higher-education debt. Here’s what to know.

The so-called One Big Beautiful Bill and the Trump administration’s executive action are making the future of student loan forgiveness and its tax consequences uncertain.

The act only leaves borrowers with a standard repayment plan, which includes 10-25 years of repayments depending on the loan amount, and a new Repayment Assistance Plan (RAP), which takes into account a person’s income but lengthens the amount of time spent on repayment.