Student Loan Changes Coming

By: Carlie McGuire Email
By: Carlie McGuire Email

Cheyenne, WY (KGWN) - Certain student loans could soon be easier to get. The Department of Education wants to change the rules for Parent PLUS loans.

According to the Associated Press: "The change would let people get loans more easily even if they have up to $2,085 in debt that is in collections or has been written off by creditors, and it would shorten the length of time their history of such bad debt is scrutinized from five years to two."

In Cheyenne, Laramie County Community College officials say the new rules won't affect very many of their students. Vice President of Student Services Judy Hay said, "We only have about 100 students who use those types of loans, and of that number only a handful have ever been denied."

Hay said part of the reason they don't have many students on that specific aid package is because LCCC tries to keep costs low and provide plenty of financial aid.

"We really try to make sure students who need financial aid get enough to go to school and not take out loans, we really push that here," said Hay.

According to the AP, the Department of Education wants to approve the rules in November. They would go into effect fall 2015.

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