This brief analyzes changes the House Committee on Education and the Workforce proposed to the income-driven repayment (IDR) plans for federal student loans under the fiscal year 2025 budget reconciliation process. The bill was approved in committee in April 2025. If enacted, it would replace existing IDR plans with a new plan (the Repayment Assistance Plan, or RAP) for loans issued on or after July 1, 2026. The RAP uses a new formula for calculating monthly payments, requires 30 years of payments to qualify for loan forgiveness, and includes a monthly interest waiver and matching payments for principal reduction. Borrowers who elect the RAP would not be able to leave the program to use a different plan later, a break from current policy. Key findings include: (1) Monthly payments under the RAP are lower than under existing IDR plans for middle-income single borrowers, but payments are higher for those earnings above $80,000 or below $30,000; (2) The payment formula is not indexed to inflation, and payments will be higher in the future for the same level of income today; (3) Borrowers with incomes that would have been exempt from payments under previous IDR plans would be expected to make payments of at least $10; and (4) Some middle-income single borrowers will make lower total payments under the RAP than under existing options because the interest waiver and principal payments reduce their balances over time.