Student Loan Changes in 2019


Harry Southworth’s experience as a professional counsellor led him to become a content writer and traveller. Having written over eight published books on institutional economics, his topics are always engaging. Harry spent his last years volunteering at a students’ disability centre, which made him an even better expert in his field.

If you’re wondering if there will be changes in the student loan system in 2019, the answer is simple: yes, there will. This year, things might look different than they did in the past; and that’s mostly because president Trump has decided to approve changing policies in the past, so he might as well continue to do so. Since the government shutdown, we haven’t heard anything back from the White House regarding students’ loans, so here are some predictions we made based on previous observation.

Forgiveness? I don’t think so.

President Trump and Secretary of Education Betsy DeVos have concluded that taxpayers support too much of the student loan forgiveness program. They believe it is unfair for the broader population to continue allowing students to pay their debts within such a long time span (usually 20-25 years after graduation). For those currently on the program, these conditions will obviously not apply.

Student loan repayment

The second policy in loan changes 2019 is useful: combining two of the already existing repayments plans together to form a lesser-confused final plan. These two existing plans are known as PAYE and REPAYE. The President will not change anything within the plans but between them. He wants to add them together and facilitate understanding for students, parents, etc. 

Before making a commitment though, think about this: why take loans to attend a school which you’re not interested in attending? Why make this effort? To get into the best colleges, you need a strong application and excellent letters of recommendations. Maybe to hire dissertation service in the uk is not such a bad idea. All you need to do is search for the best online help you can get and voila! You’re in.

Watch out! The rates are increasing….again!

Student loan rates will be increasing this year, even if they were already increased four times in 2018. If you or your parents decided to take a variable interest rate student loan, you might probably experience some trouble. You might go through some financial difficulties during the next months.

If, however, you chose a fix interest rate student loan, there’s no need to worry about anything. For you, the policy will not change. If you are on the verge on borrowing a new student loan, make sure you pick the latter option. 

About the lenders

Other changes to student loans include the increased activity of private sectors and minimized Government profits. President Trump is thinking of implementing a private sector designed strictly for private lenders such as banks or corporations that are allowed to supply students with federal loans.

If this will be the case, there might be increasing benefits for students. When suppliers multiply, and demand stays the same, the products become better and of higher quality. That is because the Government must now compete with privately-owned businesses in offering the best student advantages. If the plan will be implemented, students will have a wider range of options.

Scholarships available

There are many scholarships available for students in need. Here are some that could help you out:

  • ScholarshipPoints $10k
  • AFSA High School Senior Scholarship Contest
  • Gold Medal Portfolio Award
  • Spirit of Giving Scholarship
  • Doodle 4 Google Scholarship
  • Pepper Tuition Getaway
  • Toyota TeenDrive365 Video Challenge
  • Shell Incentive Fund Scholarship for Undergrad Students


So yes, the student loan system will probably change soon. However, try not to become to overwhelmed by this. For now, you are safe and sound, so don’t worry about unnecessary events. Wait until it happens. Focus on those college exams and ace them, will you? Also, if you consider yourself creative, enthusiastic, and original, don’t forget to apply for the above scholarships.

This is a collaborative post.


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Lynn Beattie

Aka Mrs MummyPenny

Personal Finance Expert

I write about personal finance made simple, lifestyle choices that will save you time and money, as well as products and services that offer great value.

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