How the federal student loan changes could impact borrowers
Summary
Federal student loans will change starting July 1. These changes will affect how borrowers repay their loans, with some facing higher monthly payments, stricter borrowing limits, and fewer chances to have their loans forgiven.Key Facts
- The changes begin on July 1.
- The federal student loan system will be restructured.
- Repayment options for borrowers will be updated.
- Some borrowers may have to pay more each month.
- There will be stricter limits on how much money people can borrow.
- Fewer loan forgiveness options will be available.
- Millions of borrowers will be affected by these changes.
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