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Under Secretary of Education Nicholas Kent Explains the July 1 Student Loan Changes
The federal student loan system is about to see its biggest changes in decades — and most borrowers have no idea what's coming.
In this episode, Robert Farrington sits down with U.S. Department of Education Under Secretary Nicholas Kent, the top federal official overseeing the $1.7 trillion student aid portfolio, to break down exactly what's changing on July 1 and what you need to do about it.
They cover the end of the SAVE plan and the 90-day clock for borrowers to switch, the two new repayment options (the Repayment Assistance Plan and the new tiered standard plan), how RAP's interest…
The skinny
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