Borrowers will face significant changes to student loans starting next month due to President Trump's tax-and-spending law. The changes will affect millions of borrowers who must pick a new repayment plan, with some facing tighter borrowing caps and higher repayments. The SAVE Plan will be discontinued, and borrowers will receive notices to enroll in a different repayment plan within 90 days. If a borrower does not enroll in a new plan, they will be automatically enrolled in the standard repayment plan. The Income-Contingent Repayment and Pay As You Earn plans will be phased out by July 1, 2028, and new borrowers will only have two repayment options: the Tiered Standard Plan and the Repayment Assistance Plan. The Tiered Standard Plan offers fixed monthly payments, while the Repayment Assistance Plan bases monthly payments on income and the number of dependents. Parent PLUS borrowers will be hit hardest, with new loans requiring repayment under the Tiered Standard Plan and no options for an income-driven plan. Graduate students will also see changes to borrowing limits, with strict ceilings for unsubsidized loans and a lifetime cap of $100,000. Borrowers should review their repayment plan options and reconsider their financial strategies, as the best option depends on each borrower's scenario. The changes to student loans may have a significant impact on various industries, including the healthcare industry, as some students may be forced to turn to private loans or reconsider their career choices due to the new borrowing limits.