People with higher incomes could qualify for lower student loan payments starting December

Add Axios as your preferred source to

see more of our stories on Google.

President Trump signed the One, Big Beautiful Bill Act, which outlines substantial changes for student loan borrowers, into law on July 4, 2025. Photo by Samuel Corum/Getty Images

Student loan borrowers with higher earnings could qualify for the income-based repayment plan (IBR) before the end of the year, the Department of Education confirmed to Axios.

The big picture: President Trump's "One Big, Beautiful Bill" substantially reduced the number of repayment plans available to student loan borrowers, but one provision broadens the eligible income ranges that set borrowers up for forgiveness within 20 or 25 years.