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CNBC
a day ago
- Business
- CNBC
Trump's 'big, beautiful bill' could mean 4 major changes for student loan borrowers
In the coming weeks, the U.S. Senate is expected to consider, amend and eventually vote on President Donald Trump's budget agenda, called the "One Big Beautiful Bill Act." The House passed the bill on May 22 by a single vote. The massive bill includes a variety of provisions aiming to cut government spending and raise revenue to address the federal deficit. Major provisions include making Trump's 2017 tax policy permanent where it would otherwise expire at the end of the year and cutting Medicaid benefits. Efforts to reform the federal student loan program are also included within the bill's 1,000-plus pages. The section addressing the nation's student debt would create a new income-based repayment plan, change eligibility rules for Pell Grants, aim to hold schools accountable for students' debt loads and more. The bill has an uncertain future in the Senate, but as it stands, here are four of the impacts current and future federal student loan borrowers could see. Critics of the current federal student loan system often contend that borrowers have too many repayment options, which are both confusing and overwhelming. If enacted as currently written, future federal borrowers will have just two repayment plan options: an updated version of the standard repayment plan and a new income-based plan known as the Repayment Assistance Plan. Borrowers with loans disbursed before July 1, 2026 will have the option of keeping their current plan, with the exception of the income-contingent repayment plan. Currently, the standard repayment plan sets borrowers' monthly payment at a fixed number, paying off their loans in 10 years. The new standard plan would offer a fixed payment with loan terms spanning from 10 to 25 years, based on the amount borrowed, according to a House committee fact sheet. The Repayment Assistance Plan, or RAP, will replace the currently available income-driven plans except for the Income-Based Repayment plan. On RAP, borrowers' monthly bill would be between 1% and 10% of their income, depending on how much they earn. Borrowers would pay a minimum of $10 a month and any interest exceeding their minimum monthly payment would be waived. Monthly payments for each income bracket are set as 1% of adjusted gross income for borrowers earning between $10,000 and $20,000 a year, 2% of income for those earning between $20,000 and $30,000 a year and so forth. Borrowers earning $100,000 or more will pay a maximum of 10% of their income on RAP. The plan also offers a matching principal payment of up to $50, so borrowers whose monthly payment is less than that or only covers interest can still see their balance shrink. Borrowers can have any remaining debt forgiven after 30 years of on-time monthly payments. Payments on RAP will qualify toward Public Service Loan Forgiveness. Undergraduates will have a borrowing cap of $50,000 over the course of their studies beginning with loans disbursed on July 1, 2026, up from the current $31,000 aggregate limit. Annually, students will have a cap on federal loans equal to the national median cost for their program or similar fields of study, and schools will have the ability to set lower limits. Graduate borrowers will have a cap of $100,000 or $150,000 for professional programs, including medicine. Parents will also have a $50,000 total limit on federal loans. Parents and grad students currently have no borrowing limit. The proposal also eliminates subsidized loans, which currently allow borrowers to avoid accruing interest on their debt during certain periods, such as while they are in school. Under the proposal, borrowers will lose the ability to have their loan payments paused when they are facing economic hardship, including unemployment. For loans disbursed after July 1, 2026, the proposal eliminates the option current borrowers have to request an economic hardship deferment for up to three years. Additionally, the limit on discretionary forbearances would drop to nine months over a 24-month period, from the current 12-month limit and three-year cumulative maximum. The proposal limits future administrations' ability to alter repayment plans or enact related policies. The bill would, going forward, require the Secretary of Education to demonstrate that any new regulations or executive actions would not increase costs for the federal government and prevents the Secretary from enacting any policies that do not meet that requirement. Additionally, the bill would repeal regulations for schools like the gainful employment rule, which requires institutions to demonstrate their educational offerings are sufficient to help students land well-paying jobs. Schools that do not meet gainful employment expectations risk losing access to federal funding. The gainful employment rule is intended to help students avoid low-value programs that leave them with too much debt and minimal earning potential. ,
Yahoo
27-05-2025
- Business
- Yahoo
Rapport Therapeutics to Host 2025 Investor and Analyst Day
BOSTON and SAN DIEGO, May 21, 2025 (GLOBE NEWSWIRE) -- Rapport Therapeutics, Inc. (Nasdaq: RAPP), a clinical-stage biotechnology company dedicated to the discovery and development of small molecule precision medicines for patients with neurological or psychiatric disorders, today announced it will host its inaugural Investor and Analyst Day on Monday, June 2, 2025, in New York City. The event will also be webcast live. Rapport senior management will review the company's clinical programs, with a focus on the RAP-219 Phase 2a trial in refractory focal epilepsy. The event will also feature a fireside chat with Dr. Jacqueline A. French—a globally recognized leader in epilepsy research, professor of Neurology at NYU Langone's Comprehensive Epilepsy Center, founder and director of the Epilepsy Study Consortium, and principal investigator of the RAP-219 Phase 2a trial. Event Details:Date: Monday, June 2, 2025Time: 3:00 – 5:00 p.m. Eastern TimeLocation: Nasdaq MarketSite, New York City Live and archived webcasts of the presentation can be accessed by visiting 'Events & Presentations' in the Investors section on the Company's website at About Rapport TherapeuticsRapport Therapeutics is a clinical-stage biotechnology company dedicated to discovering and developing small molecule precision medicines for patients with neurological or psychiatric disorders. The Company's founders have made pioneering discoveries related to the function of receptor associated proteins (RAPs) in the brain. Their findings form the basis of Rapport's RAP technology platform, which enables a differentiated approach to generate precision small molecule product candidates with the potential to overcome many limitations of conventional neurology drug discovery. Rapport's precision neuroscience pipeline includes the Company's lead investigational drug, RAP-219, designed to achieve neuroanatomical specificity through its selective targeting of a RAP expressed in only discrete regions of the brain. The Company is currently pursuing RAP-219 as a potential treatment for refractory focal epilepsy, bipolar mania and diabetic peripheral neuropathic pain. Additional preclinical and late-stage discovery stage programs are also underway, including targeting chronic pain and hearing disorders. ContactJulie DiCarloHead of Communications & IR, Rapport Therapeuticsjdicarlo@ in to access your portfolio
West Australian
27-05-2025
- Sport
- West Australian
West Coast Eagles strengthen reconciliation commitment ahead of launching Stretch RAP
The West Coast Eagles are strengthening their commitment towards reconciliation as they move forward with their third phase of the Reconciliation Action Plan. West Coast will next month launch its Stretch RAP across its AFL, AFLW and WAFL programs in a bid to advocate for Aboriginal and Torres Strait Islander Australians. Stretch is the third stage of the RAP — Reflect, Innovate, Stretch and Elevate — with each stage building on the previous to guide the club on its reconciliation journey. Former West Coast AFLW star Kate Orme, who is on the club's RAP committee, said Stretch had four key components; respect, relationships, opportunities and governance. 'The RAP gives us a really strong framework to make powerful changes 365 days of the year rather than just during community celebrations,' she told The West Australian. 'We're a really big and powerful brand, and I think the onus is on us to be a leader in our community (and) around taking active steps towards reconciliation.' She said the club was committed to increasing recruitment, retention and professional development opportunities for young Aboriginal and Torres Strait Islander athletes. '(Respect) is about increasing (our) understanding (towards things) like welcome to country, acknowledging the traditional owners ... smoking ceremonies and consultation on any language we use,' she said. 'We've got a procurement strategy to remove barriers for First Nations suppliers and we've got development opportunities for Aboriginal and Torres Strait Islander businesses. 'There's also increased working and learning opportunities at the club for First Nations students in promoting increased student placements.' West Coast AFLW great Krstel Petrevski — a proud Indigenous Kija and Jara woman — is the brains behind the artwork on the Stretch booklet. She says the design was inspired by the club's 2023 Indigenous guernsey. The guernsey, which she also designed, depicts an eagle connecting the club's AFL and AFLW programs together. 'The eagle's wings represent all of the past players and staff members that have been part of the footy club coming together ... and they connect the two programs together,' she said. 'As one feather grows, it will eventually outgrow and come off, and then another feather grows over the top which is the theme I was going for ... (footy players) paving the way for the next one to come through. 'There's elements on the jumper (which represent) all different walks of life coming together binding this club, so we've gone with a similar theme and used elements of that design to create the RAP booklet because the story from the jumper was really powerful.' Orme said it was 'hard to overstate' the importance of reconciliation in Australian sport. 'Sport is a vehicle for change,' she said. 'AFL is a level playing field and I think it's really important to bring off-the-field work with First Nations people to really champion reconciliation. 'Ninety per cent of reconciliation has to be done by non-Indigenous people ... and I'm really proud to be a non-Indigenous person that's an ally for change and an ally for First Nations people.'
Forbes
23-05-2025
- Entertainment
- Forbes
Eminem's Decades-Old Hit Returns To The Top 10 In America
Eminem's catalog is packed to the brim with hit singles. He has now spent more than a quarter-century churning out smashes — the kind that become huge when they're first released and remain in people's minds for years to come. Among dozens of popular tunes, one stands out as both a critical favorite and a commercial powerhouse. That track, somehow, is still a top 10 seller to this day in America. 'Lose Yourself' can currently be found on two Billboard rankings. It returns to the top 10 on the R&B/Hip-Hop Digital Song Sales tally this week, jumping from No. 12 to No. 8. At the same time, the smash reappears on the Rap Digital Song Sales list — which only includes 10 spaces — at No. 6. 'Lose Yourself' only needs to hold on for about two more months on the Rap Digital Song Sales chart before it hits 500 weeks on that list. The track has now earned 467 stays on the more all-encompassing R&B/Hip-Hop Digital Song Sales tally. Amazingly, despite its continued popularity and seemingly never ending presence on both rankings, it has never reached No. 1. The highest it has climbed is No. 2 on both rosters, though from time to time it comes close to the summit. At the moment, 'Lose Yourself' is Eminem's only charting hit in the U.S., but he does see one of his other smashes appear on worldwide rankings. 'Without Me' rises on both the Billboard Global 200 and Billboard Global Excl. U.S., settling at Nos. 166 and 141, respectively. That tune is nearing 200 weeks on both of those tallies. 'Lose Yourself' is a standout from Eminem's discography for several reasons. The track hit No. 1 on the Hot 100 in 2002 and spent 12 frames atop the tally, making it one of the rapper's most successful compositions on the competitive list. The 8 Mile single also earned him some of the mot prestigious honors possible, as it went on to win both Grammys and the Academy Award for Best Original Song. The tune is tied as Eminem's most-certified by the RIAA, alongside 'Love the Way You Lie,' one of his collaborations with Rihanna. Both tracks have moved 13 million equivalent units in the U.S. alone.
Time of India
23-05-2025
- Business
- Time of India
Is this the end of affordable loans? What Trump's ‘One Big Beautiful Bill' means for students
A sweeping domestic policy package, referred to by President Trump as his 'One Big Beautiful Bill,' is moving quickly through the House of Representatives, with House Speaker Mike Johnson indicating a floor vote could come soon after the Rules Committee concludes its review this week. The legislation—still subject to changes in the Senate—extends Trump's 2017 tax cuts and commits billions to conservative policy goals, including renewed funding for a U.S.-Mexico border wall. But perhaps its most consequential provisions for everyday Americans are those targeting federal student loan programs, which would see their most significant restructuring in decades. Fewer repayment choices, higher monthly costs At the heart of the bill is a plan to eliminate nearly all current student loan repayment options, replacing them with just two: A fixed monthly payment plan and a new income-based Repayment Assistance Plan (RAP). The fixed plan would spread out payments over time depending on the size of the loan. Smaller loans—up to $25,000—would be paid off in 10 years. Larger loans of up to $100,000 would require 20 years of repayment, while balances above that could stretch to 25 years. RAP, meanwhile, offers monthly payments tied to annual income. Borrowers making under $10,000 would pay as little as $10 per month, while those earning over $100,000 would pay 10% of their gross annual income. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 21st Century Skills Start with Confident Communication Planet Spark Learn More Undo However, forgiveness under this plan would only come after 30 years of payments—longer than the current 20-25 year timelines. The plan also introduces a $10 minimum monthly payment and allows for $0 payments only for very low-income borrowers. Tighter limits on how much students and parents can borrow The bill introduces strict new borrowing caps. Undergraduate students would be limited to $50,000 in total federal loans, while graduate and professional students could borrow between $100,000 and $150,000 depending on their program. Parents would be restricted to just $50,000 in total loans—no matter how many children they're supporting. In total, no family would be allowed to borrow more than $200,000 across all federal programs. Additionally, the bill phases out eligibility for Federal Direct PLUS Loans for graduate students and parents beginning in July 2026, further shrinking federal options and potentially pushing many toward private lenders. Pell Grant access and loan amounts to shrink for many One of the most controversial changes lies in how the federal government would calculate loan amounts. Rather than basing aid on the actual cost of a student's school, the bill pegs loan eligibility to the median cost of similar college programs. That means students attending more expensive institutions could receive significantly less federal support—even if their program costs more. Advocacy groups like the Student Borrower Protection Center have condemned this provision, warning it could disqualify many students from Pell Grants, push borrowers toward high-interest private loans, and make college less accessible for low- and middle-income families. Changes to deferment, forbearance, and rehabilitation The legislation also makes it harder for borrowers to pause payments. Starting in July 2025, students will no longer be able to defer loan payments due to unemployment or financial hardship—a safeguard widely used during economic downturns. Forbearance, or temporary suspension of payments, would be capped at 9 months within any 24-month period. However, there's a modest silver lining: borrowers in default would be allowed two chances to rehabilitate their loans, rather than just one as under current rules. Who will be affected—and when? The bill's repayment changes would apply to all borrowers still repaying their loans. However, those already paying off loans would be able to continue deferring payments due to hardship—and any such months would still count toward the 30 years required for forgiveness under the new income-based plan. The bill directs the Secretary of Education to begin transitioning to the new system within nine months of the legislation becoming law, with full implementation expected by July 1, 2026. Student advocates warn of widespread harm Borrower advocates are sounding the alarm. The Student Borrower Protection Center (SBPC) and other groups argue the bill would increase monthly payments, strip away protections for struggling borrowers, and restrict access to affordable education for future generations. As the bill advances through Congress, its student loan provisions are likely to be one of the most fiercely contested elements—particularly with millions of borrowers, parents, and future students watching closely. Invest in Their Tomorrow, Today: Equip your child with the essential AI skills for a future brimming with possibilities | Join Now
