Powell Prioritizes Student Loan System Review

Why it matters locally: Changes to the national student loan system and its interest rates could directly affect thousands of New Jersey residents currently repaying federal student loans or considering higher education, potentially altering their financial burden and access to educational opportunities.

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The newly appointed head of the national student loan body has designated the student loan system as an immediate focus. She assumed her role this week, indicating that reviewing the system is among her first tasks. She has previously made public statements regarding the interest rates associated with Plan 2 loans. In past comments, she characterized these interest rates.