Summary
The U.S. Department of Education is making changes to student loan programs, following plans from President Donald Trump. These changes include capping undergraduate loans and removing the GRAD PLUS program. Secretary of Education Linda McMahon emphasizes understanding the return on investment of higher education.
Key Facts
- President Donald Trump's plan has introduced changes in student loan programs.
- The Department of Education is capping undergraduate loans.
- The GRAD PLUS program is eliminated under these new changes.
- A new Repayment Assistance Plan is available for some students.
- Only students pursuing a professional degree can borrow up to $50,000 per year.
- Linda McMahon suggests considering non-traditional education paths like trade schools.
- McMahon encourages understanding the return on investment of higher education before taking loans.
- Six new interagency agreements aim to reduce federal education bureaucracy and shift education control to states.
