"Time is running out for parents who took out college loans for their children and want to keep affordable repayment and debt-forgiveness options," The New York Times reports.

... "Student loan experts say borrowers should still apply for consolidation, even after April 1. 'Their loan might still be consolidated in time,' the financial aid expert Mark Kantrowitz said."

"But it’s best to move quickly. 'There are no guarantees,' said Megan Walter, a senior policy analyst with the National Association of Student Financial Aid Administrators."

... "Parents should be aware that under the new borrowing rules, anyone taking out new parent PLUS loans after June 30 will have them placed in the revised standard repayment plan. The new loans won’t be eligible for any income-linked options, including the new Repayment Assistance Program, which becomes available July 1. Borrower advocates have warned that the new policy may make payments unaffordable for some parents, leading to more defaults."

"That means that if you consolidate your parent PLUS loans but take out new loans after June 30, all of your loans — including the ones consolidated — will be shifted to the standard payment plan, Ms. Walter said."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 4/3/2026