Student loan borrowers — including higher earners — may qualify for lower monthly bills soon

Many student loan borrowers could soon have access to lower monthly payments, as the U.S. Department of Education finishes implementing changes to one of its repayment plans.

Previously, borrowers needed to prove a “partial financial hardship” — or income below a certain level — to get into the Income-Based Repayment plan, or IBR. But President Donald Trump’s “big beautiful bill” waived that requirement, and the change should be widely available in December, according to a recent update on the Education Department’s website.

“In the meantime, servicers will hold IBR applications that would otherwise be denied,” the guidance says.

Here’s a look at more stories on how to manage, grow and protect your money for the years ahead.

IBR is one of the Education Department’s income-driven repayment plans, or IDRs.