What you should know about your student loans
Summary
This episode details the major overhaul of federal student loans taking effect July 1st, driven by new legislation. NPR’s Corey Turner explains that the Biden-era SAVE plan is ending, replaced by stricter repayment options and a cap on graduate borrowing. The changes aim to reduce costs and restart collections after pandemic pauses, though they may increase monthly payments and limit forgiveness opportunities for borrowers.
Topics discussed
Introduction: Major student loan changes on July 1st
Sponsor messages: Satva, Charles Schwab, and Dell
Overview of new repayment plans and graduate loan caps
Reasons for overhaul: Budget savings and post-pandemic reset
Impact on borrowers: Higher payments and default risks
Changes to forgiveness: PSLF intact, IDR extended to 30 years
Future outlook: End of forgiveness era and mental reset
Closing credits and sponsor messages
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