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Millions of federal student loan holders will have access to two new repayment options starting July 1, due to changes included in the One Big Beautiful Bill Act . As a result of the legislation, some student loan repayment plans are also going away.

The Repayment Assistance Plan, or RAP, is the U.S. Department of Education's latest income-driven repayment plan, or IDR, meaning it sets borrowers' monthly bills at a share of their income.

The other new option is the Tiered Standard Plan, which includes fixed payments spread over several different timelines, based on a borrower's total debt.

"Borrowers are facing a great deal of confusion and anxiety ahead of the changes," said Jaylon Herbin, ‌ director of federal campaigns at the Center for Responsible Lending, a consumer advocacy organization.

"We're encouraging borrowers to carefully review all available repayment options before enrolling in a new plan," Herbin said.

Here's what to know about the two new repayment…