Do You Have a Student Loan? Important Changes Under Trump’s Law Take Effect This Week
· Telemundo McAllen (KTLM)
Starting this week, significant changes to the federal student loan system will take effect under the Trump administration. Borrowers may experience varied impacts, with some seeing minimal changes while low-income individuals could face increased monthly payments. The new regulations limit repayment plan options and eliminate the more favorable repayment plan introduced during the Biden administration. Additionally, interest rates will rise, with undergraduate loans at 6.52% and graduate loans at 8.07%. The changes aim to streamline the system and transfer oversight from the Department of Education to the Treasury Department, raising concerns among advocacy groups about affordability and potential negative effects on borrowers.
AI summary · Source: Telemundo McAllen (KTLM) →
