Do You Have a Student Loan? Important Changes Under Trump’s Law Take Effect This Week
· Telemundo McAllen (KTLM)
This week, significant changes to federal student loan policies under the Trump administration take effect, impacting millions of borrowers. The new regulations will simplify repayment options, limiting them to two plans and increasing restrictions on borrowing. Many low-income borrowers may see their monthly payments rise sharply, with some estimates suggesting increases from $150 to $713. The changes also include a transfer of the student aid program from the Department of Education to the Treasury, aimed at improving debt collection. Critics warn that these reforms could push struggling borrowers towards private loans or discourage them from pursuing higher education altogether.
AI summary · Source: Telemundo McAllen (KTLM) →
