‘I’d rather turn my degree back in’: KC-area borrowers face student loan payment spikes | AI News Digest
Student loan borrowers in the Kansas City area are facing significant payment increases as changes to federal student loan programs take effect. Many borrowers, like Logan Hughes and Richelle Kent, are experiencing monthly payment hikes that could exceed $600, causing financial strain amid rising living costs. The recent overhaul, initiated by the One Big Beautiful Bill Act, has eliminated the previously popular SAVE plan, replacing it with new repayment options that may not be as favorable. Experts warn that these changes could lead to increased financial hardship for borrowers, especially those earning under $100,000. As borrowers prepare for these adjustments, concerns about the broader economic impact are also emerging, with potential declines in discretionary spending. The situation highlights the ongoing challenges faced by student loan borrowers in navigating a complex repayment landscape.
