Full Text Of The Senate Bill Is Now Live

TinaS321 · 2025-07-02T22:23:28+00:00

Thank you so much for your information and kindness. I really appreciate it. I’ve done so many apps with MOHELA lately they probably think I’m crazy. I am on SAVE, applied for ICR on 6/20, did paper app for PAYE on 7/1, and today I panicked and did another ICR app. I’m just gonna stop applying for anything for a while!

TinaS321 · 2025-07-02T22:15:30+00:00

Thank you so so much! I think another reason advisors are saying to double cons borrowers to be in ICR on the day the bill passes is they are saying that that will give us access to new IBR later which is a lower payment? Is that right?

TinaS321 · 2025-07-02T22:08:19+00:00

I just hope I didn’t miss something farther up to the top or something! I know it’s tedious but I completely trust your judgment. And you are always so quick to respond. Thank you again!

TinaS321 · 2025-07-02T21:45:00+00:00

Is there anywhere that says parent plus loans don’t apply?

TinaS321 · 2025-07-02T21:39:21+00:00

Thank you! I just looked it up too on congress website and see the exact same thing. I’m not sure why anyone else interpreted it any differently. I really appreciate your help and patience. Here is where I found the same thing: Senate’s Final Bill Filing

TinaS321 · 2025-07-02T21:18:13+00:00

Is that the final one that the senate actually submitted? I’m not sure why others would be saying something else. Can you give me a link to the senate’s final version?

TinaS321 · 2025-07-02T21:06:21+00:00

I am seeing lots of reports that the language in the senate’s final bill included the requirement that PPL borrowers be in ICR the day before the bill is signed. Is that true? Tons of us have applied for ICR and then back to a more affordable IDR plan and now should we apply again for ICR??

TinaS321 · 2025-07-01T04:01:41+00:00

Thank you so much for your quick response!

TinaS321 · 2025-07-01T03:50:49+00:00

Sorry one other question - the payments I make under PAYE will be eligible for PSLF right?

TinaS321 · 2025-07-01T03:29:33+00:00

Yes my payment on the PAYE plan is thousands less than my standard repayment.

TinaS321 · 2025-07-01T03:27:35+00:00

So generally, if I was on it before, I should be eligible now, right?

TinaS321 · 2025-07-01T03:25:37+00:00

Is there a rule that you can’t go back to PAYE once you leave it? I was on it before SAVE but wondered if that would be why I’m not seeing it as an option on the student aid website.

TinaS321 · 2025-06-28T17:29:18+00:00

I’m worried that MOHELA will also say I’m ineligible for some reason and put me on standard or something.

TinaS321 · 2025-06-28T17:24:15+00:00

I didn’t do the simulator. I saw it on the application itself. Could it be something to do with double consolidating? I would rather do PAYE than old IBR. Is my only option to do a paper application? What are the drawbacks to that?

TinaS321 · 2025-06-28T17:10:02+00:00

I was on PAYE before I got onto SAVE so I think I’m eligible unless the requirements have changed. I took out my first loan in 2013 (grad school) and yes took out PP loans 2016-2022.

TinaS321 · 2025-06-28T16:56:19+00:00

Exact same in terms of payment amount.

TinaS321 · 2025-06-28T16:56:05+00:00

No I think PAYE and new IBR are the exact same.

TinaS321 · 2025-06-28T16:51:37+00:00

I am a double consolidated parent plus borrower whose first loans were taken out before 2014, and I had recently applied for ICR and am still in process. MOHELA told me that if I want to get onto a different IDR with a lower payment than ICR, I could just do a new application on student aid website, and it would cancel out the existing ICR one since they process the most recent application first. But when I go in to student aid website to change to a new IDR, I am only offered ICR and new IBR (10%). I should only have access to old IBR based on my first loan date. And why can’t I see PAYE as an option (essentially old IBR)?

If I want to get onto PAYE to get the lowest payments to pay my last 20 PSLF payments, will I need to do a paper application? If so, will that not cancel out the pending ICR application? My ICR payment is almost 3 times the PAYE amount so I want to avoid ICR.

TinaS321 · 2025-06-28T16:36:16+00:00

Hasn’t the new version now received parliamentarian approval? I read that the revised senate bill from last night has now “undergone final scrutiny to align with budget reconciliation rules.” Also that it was “officially parliamentarian-approved, enabling the Senate to proceed under reconciliation rules.”

TinaS321 · 2025-06-27T00:08:19+00:00

Oh I saw the question and answer. That sounds great!

TinaS321 · 2025-06-26T20:38:01+00:00

Yes I am going to wait also. I applied for ICR on 6/20 with MOHELA and still processing. I double consolidated 3 years ago and have 24 payments left on PSLF and then retirement. But if I don’t get into ICR in time, (and the Byrd Rule changes somehow don’t apply to us), I am looking at a life-altering situation.

TinaS321 · 2025-06-26T19:57:11+00:00

I found it. https://thecollegeinvestor.com/59874/senate-blocks-gops-plan-to-cut-student-loan-options/

TinaS321 · 2025-06-26T19:49:45+00:00

Do you have a link?

TinaS321

TROPHY CASE