What you should know about your student loans

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  NPR.

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  This is The Indicator from Planet Money.

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  I'm Adrian Ma.

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  After home and auto loans, student loans are the third largest category of debt that consumers hold.

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  Now, the vast majority of these are issued through the federal government.

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  And some 43 million people have federal student loan debt.

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  So if this is you or you're thinking about taking out a new loan,

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  then July 1st is a date you should pay attention to because big changes are coming to this very big program.

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  It's huge, and it's huge because it's not one thing.

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  It's not two things.

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  It's, you know, I can name a dozen things off the top of my head, large and small,

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  that are changing that will affect, in all, probably most borrowers.

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  Corey Turner covers education for NPR.

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  And some of them will be felled immediately, and others could end up changing

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  the system considerably without anyone ever really noticing or understanding, huh, why did that happen?

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  Yeah, why is this happening?

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  And what do these changes mean for current and future borrowers?

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  That is what we're talking about on today's show.

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  After the break, we'll have a conversation with Corey about the biggest

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  overhaul to the federal student loan system in decades.

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