Tomorrow is July 1st. So, if you have federal student loans or you plan to have them, then you need to hear this today.

Tomorrow is July 1st. So, if you have federal student loans or you plan to have them, then you need to hear this today. First off, if you are on a save repayment plan, then that's done and you need to pick a new one in the next 90 days. Otherwise, the government is going to pick one for you. It's either going to be the rap plan or the tear structure plan. Second, they've capped graduate student loan borrowing all around. Most masters degrees that are not law or medical school are capped at $20,500 per year or $100,000 total. Law and medical school are capped at $50,000 a year or $200,000 total. Parent plus loans used to be able to cover the full cost tuition and now it only covers $20,000 a year with a lifetime maximum of $65,000 per student. This is the biggest student loan overhaul in decades. As someone who's been helping students pay for college with different and alternative methods for years, these are my recommended next steps and I'm going to outline them on my page at the scholarshipcollective.com. The student loan section will show you everything you need to know about next steps for all three of these items.