In A Nutshell: What Students Need to Know About the New Student Loan Reform
Signed into law by President Obama on March 30, 2010, the new student loan reforms will lead to significant savings (estimated at about $62 billion over the next 10 years) for the government and should also help to reduce the deficit over the coming the decade. These savings will come from the elimination of the federal subsidies paid to private banks administering federal student loans. For individual students and their families, however, most of the changes incorporated into the student loan process will not be effective until the year 2014. Those of you who are still not sure how the new student loan reforms affect your particular situation may find the points below to be helpful:
Add comment June 6th, 2010