Federal student loan changes add hurdles for borrowers, parents

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“Anybody who is still borrowing for their children needs to understand that the payment plans, they aren’t going to have any lower payment options at all,” said Betsy Mayotte, the president of the Institute of Student Loan Advisors. “Families need to be extra cognizant of how much they’re borrowing and what the monthly payment is going to be and for how long, and whether that’s something that’s going to be affordable.”