How the federal student loan changes could impact borrowers

Starting July 1, major changes to federal student loans are set to reshape repayment options for millions of borrowers, potentially leading to higher monthly payments for some and stricter borrowing limits for others. These adjustments come amid a broader effort to overhaul the loan system, but they also mean fewer forgiveness options for many. This shift could significantly impact the financial well-being of students and recent graduates, making it crucial for borrowers to understand the new landscape and plan accordingly.