Big federal student loan changes on the way

Today the Department of Education, as of August 1, interest will start accruing on those loans again. Now the SAVE Plan is gone, and if Congress didn’t get rid of it, the courts would have.

They got rid of the Grad PLUS Loan, and they added caps to the amount to the amount you can borrower both on annual basis or lifetime basis. That could mean that you can’t afford to complete your degree.

For undergraduate students, those [federal loan limits] limits have not changed.