Changes Coming for Student Loans
A new law provides more money for high-need students and better repayment terms for borrowers with a lot of debt.
By Jane Bennett Clark, Senior Associate Editor, Kiplinger's Personal Finance
The bill that put the finishing touches on health-care legislation also changed the rules regarding student loans for higher education. As of July, the feds become the sole lender for the federal student loans known as Staffords as well as PLUS loans, the federally sponsored loans for parents and grad students. These loans currently originate from private lenders as well as the federal government.
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