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The Department of Education just released its final rule implementing the federal student loan changes we’ve been tracking over the past couple of years — and while most of it lines up with what we expected, two surprises stood out. 

In this episode, we recap how we got here (the official end of the SAVE Plan and the sweeping changes from the One Big Beautiful Bill Act), break down the income-driven options ODs have going forward, and dig into the two surprises in the final rule that could affect your repayment strategy.

If you have questions about navigating these decisions alongside the rest of your cash flow, tax, and practice planning, reach out at [email protected].

What You’ll Learn

•Why the SAVE Plan is officially dead and the 90-day decision window for borrowers still in SAVE forbearance
•How the One Big Beautiful Bill Act splits borrowers into two groups based on the July 1st date
•Why consolidating your federal loans right now could restrict your repayment options
•The difference between old and new IBR — and which ODs qualify for each
•How the new Repayment Assistance Plan (RAP) works, including its payment calculation and 30-year timeline
•The first surprise: new restrictions on who can enter Pay As You Earn before it sunsets in 2028
•The second surprise: how RAP payments are (and aren’t) treated for forgiveness under IBR

Key Takeaway

July 1st is the date to circle. Whether you’re deciding how to exit SAVE forbearance, weighing a consolidation, or trying to lock in Pay As You Earn before new restrictions hit, the window to act on your best options is closing — and the right move depends heavily on your specific path toward forgiveness or payoff.

Resources

• Podcast Ep. 152: Listener Q&A: Practice Ownership, Backdoor Roths, and Student Loans
• Podcast Ep. 151: How Filing Taxes Separately Impacts Student Loan Outcomes for Optometrists
• Ep 143: How the Final One Big Beautiful Bill Act Impacts Optometrists – Taxes, Student Loans, and More!

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The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.