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A major shakeup to the federal student loan system affecting millions of borrowers will take effect July 1. The changes mean some Americans — especially lower-income borrowers — will face higher monthly payments on their student loans. Other borrowers will face new limits on loans. ABC News' Elizabeth Schulze has the details. #studentloans #education #politics #news #abcnews
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New Extended Deadline for Student Loan Forgiveness According to the latest guidance from the U.S. Department of Education, individuals seeking to consolidate their loans for the adjusted benefits must submit their loan consolidation applications by the new deadline of April 30, 2024. As per Income-Driven Repayment (IDR) plans, borrowers can qualify for student loan forgiveness after 20 or 25 years of consistent payments. Traditionally, only time spent in repayment under an IDR plan was considere
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