New borrowing limits could make it harder for some students to afford to go to college. Right now, if you or your kids get into college or graduate school and don’t have the money to pay for it — which most people don’t — you can borrow however much you need from the federal government to cover tuition and living expenses.

If your federal student loan hasn't yet entered repayment, you won't be eligible to enroll in a repayment plan. Repayment starts six months after graduation or if your enrollment drops below half-time, unless you enroll in another program, like graduate school, before the grace period ends.

Nearly two million student loan borrowers are at risk of having their wages garnished next month, credit-reporting agency TransUnion said on Tuesday. Fresh data shows a sharp increase in the number of delinquent student loan borrowers in recent months,