“Borrowers are facing a great deal of confusion and anxiety ahead of the changes,” said Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending, a consumer advocacy organization.
“We’re encouraging borrowers to carefully review all available repayment options before enrolling in a new plan,” Herbin said.
Here’s what to know about the two new repayment options coming in July, and how to decide the right plan for you.