Big student loan shift: Alert issued as payment changes loom for millions

Millions of parents hold Parent PLUS loans. Federal data shows over 4 million borrowers face higher payments if they miss the April 1, 2026 consolidation deadline. Unconsolidated loans cannot access income-driven repayment plans. That blocks the Income-Contingent Repayment (ICR) Plan and Public Service Loan Forgiveness for eligible parents. Consolidating now can lower monthly payments and preserve long-term forgiveness. Experts warn procrastination risks locking families into rigid schedules and higher interest costs. Acting now ensures financial flexibility, protects access to federal relief programs, and avoids decades of unnecessary debt.

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