Major Student Loan Updates: RAP, SAVE, IBR, & PSLF Changes Explained!

In this conversation, Chad sits down with Andrew Paulson to discuss the most significant updates to student loans covered in the One Big Beautiful Bill Act. They cover the new federal borrowing caps for future medical students, the consolidation of repayment programs, and the introduction of the Repayment Assistance Plan (RAP). Chad and Andrew also discuss the broader implications for the physician community, such as the potential impact on medical school access, career choices, and the ongoing physician shortage. Watch this video to hear the pair break down how these changes affect both current borrowers and those just starting their medical education journey, and share practical strategies for managing loans and dig into the reliability and future of Public Service Loan Forgiveness (PSLF). → Submit a question for YouTube and/or join the WealthKeel Weekly: https://go.wealthkeel.com/m/WK 🔔 Subscribe for more insightful finance tips and hit the notification bell to stay updated! 🔔 ♥️ Lovingly tap that like button if you find this video helpful. 👍 ❓ What to submit a question for a future AMA episode? → https://go.wealthkeel.com/m/WK 🚨 Looking for a team of experts? Check out the “Best of the Best” page on Physician Cents (my podcast!) Insurance Brokers, Mortgage Brokers, Student Loan Refinancing, and more. → https://www.physiciancents.com/resources Further Resources from this episode: • https://x.com/StudentLoanAdv Key Insights 💡 • Major policy changes are reshaping student loans. • The new Repayment Assistance Plan (RAP) simplifies but tightens repayment. • Access to medical school may become more challenging. • PSLF remains reliable for current borrowers, but the benefit is diminishing. • The PSLF Buyback Program is unreliable. • Personalized advice and timely action on managing student loans are important. Highlights 🕒 00:00 Major student loan updates explained. 05:01 Impact of new borrowing cap on medical school access for less affluent students. 08:26 Overview of the new Repayment Assistance Plan (RAP). 19:04 Implications for Public Service Loan Forgiveness (PSLF). 24:37 Guidance on trusting the PSLF buyback—should you wait or switch repayment plans? 37:01 Choosing between forgiveness and refinancing amid changes to the SAVE plan. 40:21 Breakdown of how StudentLoanAdvice.com can assist when you reach out. 🙏 Please share any topics or questions you would like to see featured in our videos in the future! Drop us a line in the comments. You can also use the link below to send us a question privately. 👉 Follow us on socials, join our weekly newsletter, get our free eBook, send us your YouTube questions, and more → https://go.wealthkeel.com/m/WK Disclosures: This information is for general purposes only. This information is not intended to be a substitute for specific professional financial or tax advice, as individual circumstances vary. Please see a financial professional, CPA, and/or an attorney in regards to your own individual situation.