Making sense of student loan changes

If you have student loans, keeping up with the rules hasn’t been easy. Over the past few years borrowers have navigated payment pauses, loan forgiveness efforts, court challenges and the return of monthly payments.

Now, another major change has arrived. As of July 1, new federal rules have reshaped parts of the student loan system, restricting repayment options for many borrowers and borrowing rules for future students.

MPR News host Angela Davis and her guests talk about what these changes mean for borrowers, how they affect monthly payments and how people can make informed financial decisions about their student loans.

Guests:

• Chris Farrell is a senior economics contributor for MPR News and Marketplace.
• Shannon Doyle is a certified financial counselor and program director of partnerships and education with LSS Financial Counseling.

Here are some resources that were mentioned during the show:

• Federal Student Aid
• Federal Student Aid Estimator

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Use the audio player above to listen to the full conversation.