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Student Loan System Overhaul Begins July 1 | Texas News
Big changes are coming to federal student loans—starting July 1st, millions of borrowers face new repayment rules and caps. Existing plans are disappearing, and you could be auto-enrolled in a higher-payment standard plan unless you act. New borrowers now choose between income-driven plans or tiered standard options, designed to simplify repayment. Current borrowers can stay put or switch, but new loans post-July 1st are locked into these two new paths. Plus, graduate and parent PLUS loans now have strict borrowing caps—master’s students max out at $20,500/year and $100,000 total, while…
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