Student loan limits change for graduate students and parents, some repayment plans disappear

The US Education Department has changed federal student loan rules. This means new limits on how much graduate students and parents can borrow, and some older repayment plans are being phased out.

These changes simplify the student loan system, but also remove some options borrowers previously had. Graduate students and parents will find it harder to borrow large sums. The goal is to make repayment clearer, but it also means less flexibility for some.