Trump, Education Department and student loan
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The grace period for federal student loan borrowers who graduated in May is ending. Here's what to know about starting payments.
Changes are coming to the federal student loan program, and private medical school loans may be the only way to afford tuition now.
The Education Department recently wrapped up talks over how to change the student loan system. Here’s what borrowers should know about what’s ahead.
Sen. Elizabeth Warren warned that selling off student loan to private companies would be a "tremendous mistake."
Every borrower should know their loan balance, current interest rate and monthly payment, says Joseph Price-Gault, head of student loan refinancing at Juno, a student loan negotiation group. You should also know when you are obligated to begin making your payments, he adds.
Since President Donald Trump took office in January 2025, sweeping changes have been made to federal student debt relief programs.
Last week, the average interest rate on 10-year fixed-rate private student loans fell. This drop in rates is good news for borrowers interested in pursuing private student loans to make up for a gap in college funding.
By the end of her five-and-a-half years studying psychology, Jeacoma owed $85,000. It wasn’t until recently, now at age 26, that she discovered some of those loans carry staggering interest rates, as high as 17%. Others fall around 10%.