Kimberly Adams

It made quite a few changes to federal financial aid programs.

Can you explain what it actually means to be in default?

One of the other changes in H.R.

1, the One Big Beautiful Bill Act, has to do with parent plus loans.

These are the loans that parents take out instead of the student to help them cover their college expenses.

And then the parents are on the hook for paying it back, not the student.

Can you lay out the changes coming there and how parents should get ready?

Are there any changes coming down the pipeline that people should be aware of in the private student loan market?

What advice do you have for students and parents trying to make a decision in this environment about whether or not to even take out student loans or how much to take them out for?

Well, thank you so much for making us smart on this.

Betsy Mayotte is the founder and president of the nonprofit, the Institute for Student Loan Advisors.

Really appreciate your time today.

If you have questions about your student loan situation, the Institute of Student Loan Advisors has a bunch of resources on their website.

We're going to have a link to that on our show page.

They also answer questions at tisla at freestudentloanadvice.org.

Thanks again, Betsy.

That's it for us today.

We're going to be back later this week.

In the meantime, we also want to hear your questions and comments.

You can leave us a voicemail at 508-UBSmart or email us at makemesmart at marketplace.org.