Elizabeth Ayoola

That's 901-730-NERD.

Now to help us answer Sydney's question on this episode of the podcast, we have lending nerd, Kate Wood.

Kate, welcome back to Smart Money.

Oh, thank you for having me back.

Sheesh, so many rules going on here.

But Kate, repayment plans are changing later this year.

More rules for us.

Would that affect these new loans?

Oh my gosh.

I haven't thought about it that way before.

That is a mortgage.

Kate, is there anything else that makes PSLF different?

Well, now that we know how this whole program works, thanks to your explanation, Kate, let's get to what's new with the program and loans for graduate school, because things are looking pretty different from how they were a year ago, which I'm sure you know, Kate, because you're in the know-how.

One change that might not apply to our listener, depending on whether she plans to take out additional loans for her graduate degree, is that late last year, the Trump administration put out a proposal saying,

to reclassify nurses as not professionals.

There was a lot of social media uproar about that, by the way.

And therefore they would be eligible for lower amounts of federal loans for graduate school.

How might this impact those going into the nursing field?

I will say just as I'm hearing all these numbers thrown around, these mortgage numbers for education, it just makes me think back to my undergraduate degree.

I did mine in the UK and I at the time didn't pay more than $10,000 for three years of schooling.