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Major changes are coming for parents taking on federal student loans to pay for their kids’ education, thanks to the Republican tax and spending bill that passed last year. And if you’re one of those borrowers, or will be in the coming years, these shifts could significantly impact your ability to pay for college and repay your student loans.
Currently, Parent Plus borrowers have access to numerous options that allow them to make lower payments than what is required under the standard repayment plan — including interest-only payments, extended plans and, if consolidated, plans based on income.
