Over 7 million student loan borrowers have 90 days to switch repayment plans
Federal student loan repayment rules change July 1, leaving most prospective borrowers with just two repayment plan choices.
Major changes to federal student loans take effect July 1. As a result, most prospective federal student aid applicants will face only two repayment-plan options, and over 7 million borrowers have 90 days to switch their repayment plans.