In an effort to ease the burden of student loans, the U.S. Department of Education is testing how more financial counseling can help college students handle debt and manage schoolwork. Loan counseling is currently only required twice—before students take out federal loans and after they receive their degree or leave school. In a new program, participating universities will mandate students receive additional loan counseling.
The department also recently created StudentLoans.gov/Repay to help students determine their best loan repayment option by answering five yes-or-no questions.
