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Federal Student Loan Changes July 1 | Salt Lake City News
Starting July 1, major federal student loan changes are hitting borrowers hard—especially those on SAVE, parent loaners, and grad students. The Department of Education is simplifying the system with new repayment plans (RAP and Tiered Standard) and tighter borrowing caps, including a $20K annual limit on Parent PLUS loans and lifetime caps for grad students. The Biden-era SAVE plan is gone, forcing new and existing borrowers into updated options. With over $1.7 trillion in student debt, these moves spark debate: are they sensible reforms or roadblocks to affordability? Plus, a 1% interest…
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