How the federal student loan overhaul impacts students

building good creditToday, President Obama signed the Reconciliation Bill (including the student loan provisions) into law at the Northern Virginia Community College — a Virginia community college where Second Lady, Dr. Jill Biden, teaches. So what comes next?

In case you missed our last update, see below for more details on this historic piece of legislation and its impact on students.

Currently, two-thirds of college students take out student loans, and the student graduates with a debt of $23,000. This new law is meant to help US students better afford college and be prepared for the modern world without the burden of excessive debt.

Stay tuned as SimpleTuition will be watching Washington closely and providing updates continually as legislation progresses.

 

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