PA Borrowers Face New Student Loan Repayment Hurdles

Pennsylvania borrowers are among millions nationwide facing federal student loan changes as the cost of living continues to surge. Pennsylvanians hold more than $1.7 trillion in U.S. student loan debt.  Tamar Hoffman with Community Legal Services says that under the Department of Education’s new regulations, some borrowers can use the new Repayment Assistance Plan…

“For many borrowers, the Repayment Assistance Plan may be more expensive in terms of the monthly payments than the existing income-driven repayment plans. And also that for the tier standard plan, that’s basically a plan where you have fixed monthly payments each month.”