FORT SMITH (KFSM) – Student loans can put new graduates in a financial hole. But changes that kicked in this July are expected to provide some relief.
Changes to the federal student loan program include things like interest rates that won’t fluctuate and relief for those who defaulted on their loans by making repayments more affordable.
Under federal guidelines that took effect (July 1) college students can work out new options to repay their loans based on their income.
Also students who have a loan at a college that closes will find it easier to have that loan dismissed.