RAP’s Strict Rules Could Cost Borrowers | Raleigh News

A new student loan plan called RAP launched July 1 with powerful perks—interest waivers and principal matches—but with a brutal catch: one day late, and you lose them both. Nearly 46,000 borrowers signed up immediately, but the zero-tolerance policy means even a single missed day can cost hundreds over time and stall your path to forgiveness. Unlike older income-driven plans, RAP offers no grace period, and late payments also reset your 30-year forgiveness clock and delay Public Service Loan Forgiveness. To help, the Education Department is offering a 1% interest rate cut if you enroll in autopay by September 30—your best shot at staying on track and keeping those critical protections. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b265248b15086265