Terry Savage, Tribune Content Agency

In my column last week about student loans, I focused on changes coming to the outstanding loan burden for graduates. But parents who have taken out Direct PLUS loans also have some critical deadlines as a result of changes made by the Department of Education. Starting July 1, 2026, you lose ALL of your options to lower your monthly payments — except by refinancing privately.

For many years, I advocated against PLUS loans — which are the responsibility of the parent, not the student, to repay — except as a last resort. They carried the highest interest rate every year, as well as additional distribution fees that added to the overall cost. And for a long time, there were few ways to reduce payments.

But in recent years, parents could take advantage o

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