India, June 8 -- Federal student loan rules will change on July 1, 2026, and borrowers may have fewer repayment options after that date. The changes affect repayment plans, Parent PLUS loans, graduate student loans, and loan forgiveness programs. Experts say borrowers should check their student loan accounts now instead of waiting until after July 1.

Borrowers should log in to the federal student aid website and see which repayment plan they are currently using. Jack Wallace, director of government of Yrefy, told USA Today that some repayment options available today may not be available after July 1.

Around 7.5 million borrowers are currently enrolled in the SAVE repayment plan. According to the US Department of Education, SAVE borrower...