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Overall, the change will see borrowers being charged more than $27 billion in interest over the next 12 months.
Following the passage of President Trump's sweeping budget bill, here's some of the biggest changes to student loans.
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The Senate narrowly passed it massive spending bill on July 1. Here’s what it could mean for student loan borrowers if the bill becomes law.
Most of the changes to student borrowing, such as lower limits on graduate loans, wouldn’t affect borrowers who are out of school and in repayment.