Appearing in NerdWallet on April 1, 2026, Elin Johnson talks to Kyra Taylor, staff attorney at NCLC about how Parent PLUS loans will face new restrictions, as part of an overhaul of the student loan landscape.
“Borrowers often don’t realize that the government has extensive power to collect what you owe if you default on federal student loan debt,” said Kyra Taylor, a staff attorney who focuses on student loans at the National Consumer Law Center. “They can garnish your wages, seize a portion of your social security check, and take your tax refund to pay off the debt. And, unlike other forms of debt, there is no statute of limitations. The debt can follow borrowers to the grave.”
Going forward, parents will need to plan accordingly and consider all their options when it comes to borrowing for their student’s education.
“I deeply empathize with the desire to do whatever it takes to send your child to the college of their choice, whatever the cost,” Taylor said. “But, unless you carefully consider whether you can bear the burden of that debt, that choice to take out a parent PLUS loan could haunt you for years and threaten your financial security for decades.”
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