New student loan rules will reduce the cost for borrowers — what you need to know

On Monday, the Education Department made adjustments to its student loan programs, and these new rules will reduce the amount many borrowers will owe. These changes are part of an attempt to protect borrowers by establishing a fairer and more accountable student loan system.

It is hoped these adjustments will streamline and improve the rules for major targeted debt relief programs, according to a press release issued on Monday, October 31 (opens in new tab).

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