“`html
{
"@context": "https://schema.org",
"@type": "FAQPage",
"mainEntity":[
{
"@type": "Question",
"name": "What are the key changes proposed for federal student loan repayment?",
"acceptedAnswer": {
"@type": "Answer",
"text": "The proposed changes include reducing the number of repayment plans, potentially increasing monthly payments for some borrowers, extending the timeline for loan forgiveness, and eliminating economic hardship and unemployment deferments."
}
},
{
"@type": "Question",
"name": "how would the 'Repayment Assistance Plan' (RAP) work?",
"acceptedAnswer": {
"@type": "Answer",
"text": "RAP would be an income-based repayment plan where monthly payments typically range from 1% to 10% of a borrower's income, with a minimum payment of $10. The higher the income, the larger the required payment."
}
},
{
"@type": "Question",
"name": "What impact would the changes have on loan forgiveness timelines?",
"acceptedAnswer": {
"@type": "Answer",
"text": "The standard repayment plan could extend to between 10 and 25 years depending on the loan amount. The RAP plan would not lead to debt erasure until 30 years of payments."
}
},
{
"@type": "Question",
"name": "Why are economic hardship and unemployment deferments critically important?",
"acceptedAnswer": {
"@type": "Answer",
"text": "These deferments allow borrowers to pause their monthly payments during periods of joblessness or financial setbacks, helping them avoid delinquency and default."
}
},
{
"@type": "Question",
"name": "What are consumer advocates saying about the proposed changes to student loan repayment?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Consumer advocates argue that the proposed changes will worsen the student loan crisis, making it harder for borrowers to manage and repay their debt."
}
},
{
"@type": "Question",
"name": "When would these changes to student loan repayment take effect?",
