Student Loan Changes Coming

As part of the debt deal, student loans are about to change.

One of the most dramatic changes: graduate students will not be able to get subsidized loans after July of 2012. Subsidized loans make borrowing easier because interest costs are covered by the government until students finish school.

Lawmakers argue that the change will help keep other programs, such as Pell Grants for low income students, in place. Something had to go, and graduate students will pay the price this time.

For more details, see the Boston Globe's summary of changes to student loan programs.

Further reading:

• Student Loans 101