Student loans are in the news again. This time, Secretary of Education Betsy DeVos has announced that her department is rescinding some policies issued by the Obama administration. It’s all a bit complicated, but the rescinded policies were aimed at changing how student loans are serviced, with some emphasis on protecting borrowers by ensuring adequate customer service.
It’s hard to tell exactly how the new approach will shake out. But let this be a reminder: student loans are something to approach very carefully. Lenders aren’t on your side. In today’s environment, only you can protect yourself.