For new loans taken out after July 1, 2026, there are only two repayment options:
New Standard Plan
Fixed payments over 10, 15, 20, or 25 years (based on loan size).
New Income-Based Repayment Plan (RAP)
Payment is 1 to 10 percent of income (based on AGI), with discounts for dependents and interest not accruing faster than you pay.
Current borrowers can keep their old plans for now, but some plans will be phased out by 2028. Parent PLUS loans taken after July 1, 2026, must use the Standard Plan.