Tips for Student Loan Success

Tips for Student Loan Success | Money Mondays

Money Monday: Jini Thornton — Source: R1 Digital / other

Money matters don’t have to feel overwhelming, and Jini Thornton is here to prove it. On a recent “Money Monday” segment of Get Up! Mornings with Erica Campbell, Jini shared invaluable advice on navigating the student loan landscape, especially in light of recent changes. Her insights are timely, practical, and rooted in the belief that stewardship over our finances is key to building a stronger future.

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Here are the five key changes to student loans under the latest budget bill:

Pell Grants can now be used for workforce training certificate programs, not just traditional degrees.
Lifetime borrowing limit established for undergraduate and graduate students—set at $257,000 total.
New annual and lifetime borrowing limits for parents—$20,000 per year and $65,000 per student.
Payments for income-driven repayment plans are expected to increase for many borrowers.
Forbearance and hardship deferment programs are being scaled back or time-limited, making it crucial for those facing financial difficulties to stay on top of their options.

For families impacted by these changes, Jini stressed the importance of proactive financial planning. Her top advice? Align education goals with what you can realistically afford. Consider choosing budget-friendly colleges or researching scholarships and grants to ease the financial burden. “We shouldn’t be paying for an education we can’t afford,” Jini explained—a reminder that debt doesn’t have to be the default path to success.

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Beyond these tips, Jini urged borrowers to pay close attention to their repayment plans. Many current income-based plans will phase out by 2026, requiring borrowers to reapply. Staying informed and in touch with lenders is critical to avoiding default.

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