Bread Already Baked

Ren: Congress changed the student loans, old ones too; the summer 2025 budget law ends the PAYE plan in summer 2028. Granny Ume: bread already baked, who changes it? Mio: what changes? Ten percent of income for twenty years becomes fifteen for twenty-five; one Utah pharmacist's $747 a month becomes $970. Poko: same bread, new price. About 1.5 million were on the old plan.

The budget law Congress passed in the summer of 2025 will shut the Pay As You Earn student-loan plan in the summer of 2028, pushing its roughly 1.5 million enrollees onto plans with worse terms, which advocates and legal experts call the first time existing borrowers have been made generally worse off: a Utah pharmacist paying $747 a month on 10% of income for 20 years faces $970 at 15% over 25 years, or $1,009 on the new 30-year plan; a borrowers' lawyer notes the loan note only promised a choice of plans, which borrowers still have.

Starring

RenGranny UmeMioPoko