President Trump proposed new changes to student loans as part of his annual budget proposal. Here’s what you need to know:
Limits annual and lifetime student loan limits for graduate students and parent borrowersExpands eligibility for Pell Grants, supports borrower defense rule, and provides discretionary funding for Historically Black Colleges and Universities During the 2016 presidential campaign, Trump proposed combining the existing federal student loan repayment plans into a single, simpler repayment plan to help borrowers.
5% of income, his proposal would forgive the remaining student loan balance five to 10 years sooner than the current income-driven repayment plans.Parent PLUS Loans help parents and grandparents fund undergraduate education for their dependent children or grandchildren. Graduate student loans also borrow PLUS loans to fund their graduate school education.
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