Student-loan borrowers and parents are facing spiking payments and fewer options for relief, a new report says
Source: Business Insider ·
Trump's student-loan repayment overhaul would increase payments by thousands of dollars, a new report from the Center for American Progress finds.
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Student-loan borrowers are facing higher monthly bills under President Donald Trump's repayment overhaul, a new report says.Kent NISHIMURA / AFP via Getty ImagesStudent-loan borrowers and parents are facing payment surges, a new report said.Borrowers could see an average annual increase of over $2,000 due to Trump's repayment changes.The financial strain puts borrowers at greater risk of defaulting on their debt.A big financial hit could be coming for student-loan borrowers, a new report says.On Monday, the Center for American Progress, a left-leaning think tank, released a report showing how President Donald Trump's student-loan repayment overhaul will affect bills and relief for millions of borrowers. The think tank shared the report exclusively with Business Insider.The student-loan changes, signed into law in Trump's "big beautiful" spending legislation, took effect July 1 and included new income-driven repayment plans and borrowing caps. Borrowers moving from the Biden-era SAVE…