What changed
A dated timeline of the federal changes that matter for funding and repayment. Figures and dates come from rule files last checked on November 12, 2026. Confirm details on StudentAid.gov before you act.
March 2026
SAVE plan ended
A court order ended the SAVE Plan in March 2026 (studentaid.gov). Edfinancial, a federal loan servicer, states the date as March 10, 2026.
July 1, 2026
Grad PLUS closed to most new borrowers
Starting July 1, 2026, Direct PLUS Loans are no longer available to graduate or professional students unless the student qualifies for the limited exception.
July 1, 2026
New Direct Loan and Parent PLUS caps
Graduate annual Direct Unsubsidized 20500 dollars (aggregate 100000). Professional annual 50000 (aggregate 200000 minus graduate borrowing). Parent PLUS annual 20000, aggregate 65000 per student unless an interim exception applies.
July 1, 2026
RAP becomes the only IDR option for new loans
Available for most Direct Loans disbursed before or after July 1, 2026. If all loans were disbursed on or after July 1, 2026, RAP is the only IDR plan available. Parent PLUS loans and Direct Consolidation Loans that paid off a Parent PLUS loan are not eligible, even if consolidated.
July 1, 2026
Tiered Standard available for new Direct Loans
Available if at least one Direct Loan was first disbursed on or after July 1, 2026. The plan then applies to all of the borrower's Direct Loans. If all federal student loans were disbursed before July 1, 2026, the borrower cannot request Tiered Standard. Payments under the Tiered Standard Plan do not count toward PSLF. Source: https://studentaid.gov/articles/save/
July 1, 2026
Federal autopay interest reduction
Starting July 1, 2026, borrowers enrolled in auto pay receive a 1 percent interest rate reduction. Borrowers enrolled by December 31, 2026 (or already enrolled) keep the reduction through June 30, 2028. Optional input for the estimator, not a default assumption.
No later than July 1, 2028
PAYE and ICR retire
The official Federal Student Aid FAQ says ED will retire PAYE and ICR no later than July 1, 2028. Existing participants are to be told about other plans as the date approaches. The Phase 1 estimator compares RAP, IBR, and Tiered Standard. PAYE and ICR can be documented on a later explainer page, but they are not required in the Phase 1 calculator.
IBR remains relevant for many loans first disbursed before July 1, 2026 (Income-Based Repayment (IBR)). See the plan comparison guide and the eligibility quiz.