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Parent PLUS borrowers face repayment changes after July 1
Starting July 1, major changes to federal student loan repayment options will take effect, impacting Parent PLUS borrowers who are advised to consolidate their loans beforehand to retain income-driven repayment plans and Public Service Loan Forgiveness. Borrowers need to act quickly by visiting studentaid.gov to review and consolidate their loans, or they risk losing access to certain repayment options. The new regulations also limit borrowing caps for Parent PLUS loans and restrict repayment plans for new borrowers to only two options.
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