New federal student loan borrowing rules

Good morning. Vice President JD Vance touts major developments in Iran talks. The Wall Street Journal tells us how it could shape his political future He stands to be the face of it, and it could be very successful. It will also depend on how the White House really sells it. Nework City's mayayor Zoran Mamani gets unusually involved in a set of primaries today And the student loan changes on the way that you should know about It's Tuesday, june twenty third. I'm Gideillian Reznk in Fh M meet to Bestu. This is Apple News todayay Vice President Vance left Switzerland Monday after two days of high level talks with Iranian negotiators The visit delivered two major developments. First, that the Trump administration would temporarily allow Iran to sell its oil on the international market For the first time in decades, a major policy reversal spanning multiple administrations And Vance said that Tehran had agreed to allow nuclear inspectors into the country again, restoring a similar commitment from the Obama deal That is a major milestone for the American people and the first step in permanently denuclearizing or permanently ending a nuclear weapons program in Iran Iranian officials cited progress, but denied making any new commitments Their response was another reminder of the challenge in securing public agreement and building trust in the talks The stakes for both countries and the global economy is huge. And for Vance personally, being front and center in the negotiations has its share of risks and opportunities This steel could just completely blow up in their faces It gives a very short deadline to come up with a really solid plan Natalie Andrews is a White House correspondent for the Wall Street Journal Conversely, if the deal goes well, JD Vance is the face. He'll be praised and lauded for coming up with a deal that brings United States peace Before he left for Switzerland, some Republicans were critical of the initial terms of the deal And they were quick to grant Vance ownership of it, despite the fact that it was President Trump's signature on the memorandum Senator Lindsey Graham called Vance, the quote architect of the deal. And Trump himself seemed to set his partner up as a potential fall guy. with a jokeie made alongside cabinet members at the G seven summit this week This way if it works out, I'm going to take the credit. If it doesn't work out, I'm Blaming JD. You better be careful, JD Fance's centrality to a major foreign war marks a change for a politician and former Marine who shaped his identity on being skeptical of American entanglements He has been outspoken about not wanting forever wars. He's been outspoken about not wanting to engage in conflicts that result in U. S. service members dying, which unfortunately did happen in this engagement with Iran, this conflict We're going to stop sending our young people to faraw away lands. We are not the policemen of the world. We need to use our young people here at home And so he is more of a skeptic in the White House. and he has said he advocated for diplomacy. He let his position be known to the president about the conflict, about his worries. and then he got on board It's a gamble that could make an impact if and when Vance does seek to run for president in twenty twenty eight Eespecially if he's up against his colleague, Secretary of State Markca Rubio JD Vance has compared. the twenty twenty eight gossip to the apprentice and Donald Trump running out his own apprentice game live for all of us to watch Trump himself likes to talk about it, likes to talk about, o, who could be my successor? Do you like Vance? Do you like JD? Do you like Rubio And so we're going to see kind of what Vance can do here, right For now at least, the Vice President was feeling optimistic about the talks, saying that they had laid a good foundation going forward. New Yorkity Mayor Zoram Mam Dani will put his popularity and influence to the test today as he positions himself against a Democratic establishment in a set of primaries In a high stakes move, he's opted to back a set of lesser known challengers against congressional incumbents. At campaign rallies, he's made no secret of his desire to influence the party's direction Because the party of the past willill not. Be what leads us into the future For we need a Democratic partarty with backbones A Democratic partarty that offers an affirmative agenda without apology Madison Fernandez is a reporter at Politico who's been following the races He sort of rode this wave of wanting change like he's advocating for now. I mean, he defeated the former governor of the state. He defeated the incumbent mayor at the time. So I think he's really trying to utilize that energy that propelled him to office to help get allies in Congress Mamani is backing Democratic Socialist Aara Lisa Avila Chevalier over Representative Adriano Espayat, who is a close ally to House Minority Leer Hakim Jeffrees. He's the chair of the Hispanic Caucus in Congress and someone who sits on the left of the party. Mondani's also gotten behind the former New York City comp Troller Brad Lander in a race against two term repepresentative Dan Goldman There aren't really a lot of significant differences, which just makes this all even more interesting to me. And I think that watching some of the debates, like the candidates will even say like, we agree on all of this. So that has led to a few debates that have been not super telling because there aren't many differences But there is one area where there is a key difference, central to Mamdani's own political image But I think the real dividing factor here is going to be over Israel and AAPAC, the American Israel Public Affairs Committee In both primaries, APAC is backing the incumbents, not Mandani's chosen candidates One, Dan Goldman, has expressed frustration with how the issue has played out in the campaign The reality is in these Democratic primaries, that's what's going to motivate the base when you have that sort of distinction here of someone who's endorsed by a group like APA and someone who's very clearly saying, I'm never going to take that money In another primary, things have gotten a little more personal Representative Nidia Vazquez was an early mainstream Democrat who backed Mandani's mayayoral campaign But when she announced her retirement, Mamani refused to back her chosen successor Velasquez has since publicly said that she's lost trust in the mayor So you have a bit of a proxy war in a way going on on a few levels here. There are some in the political establishment who have expressed frustration with the mayor for going against incumbents, for going against the retire incumbents picks It's not that common for mayors to inject themselves into these races in the way that Mamani has. He was personally involved in candidate recruitment, raising money, and contributing to strategy In a city that also produced repepresentative Alexandria Ocasio Cortez, it could be an opportunity to grow the nationwide influence of the Democratic Socialists of America But on the flip side, Mandani's name isn't on the ballot And his popularity might not be enough to get his candidates over the line One DSA member told The New York Times that in that scenario, opponents might claim Bamdani's moment is more man than movement Big changes are coming to student loans. Starting on july first, new borrowing rules could affect millions of students across the country. As part of President Trump's so called one big beautiful bill, the amount of money that certain students and parents can borrow will be capped Some borrowers will be forced to pick new potentially more expensive repayment plans And those seeking loan forgiveness will see rules tightened up To better understand these changes, we spoke to Meredith Kalodner. She's a senior investigative reporter for the Heckinger Report She told us the rise in borrowing rates among students in recent years was becoming a concern. question is whether or not the solution is causing more problems But I think both the administration and I would say others across the political spectrum agree that too many students were ending up in debt that they couldn't pay off One big change on the way is the end of the Biden era Sve program This was a broad based debt relief plan that lowered or canceled repayments altogether at an estimated cost of around four hundred billion dollars over three decades. Theupreme Court's conservative majority ruled that Biden had overstepped his authority by committing to the measure without congressional approval students who are in the SV program who have been waiting to start their payments completely are being removed from it and put into a different loan repayment program which is less generous Let's just say, it takes it will take you much longer to pay off those loans Borrowers have until September to pick a new plan, or they will be automatically enrolled in the standard repayment system, which is the least flexible There will still be income based repayment options, but the terms offer far fewer advantages for borrowers Grad students, meanwhile, are seeing the amount of money they can borrow capped, specifically for those in graduate professional programs So you can only borrow fifty thousand dollars a year or two hundred thousand dollars over a lifetime The idea is that if you can't borrow more than that, you can't get into more debt orr at least you won't do it on the federal government's dime Calodner says that could present problems for certain fields like nursing, for example, which will be capped at one hundred thousand dollars total. Nursing is a well worn path for people with lower incomes to enter a career with better wage growth potential and the genuine possibility of paying off large parts of their student loans. That prospect may get a lot more complicated now If you can't borrow, you can't go and therefore you can't. is the degree that would then allow you to move up in terms of social mobility And Coluder notes, that's a problem for people looking at careers across medicine there was a study that looked at percentage of these students are borrowing over The current C and eighty percent of dentists seventy two percent of physicians' assistants, twenty percent of registered nurses Almost sixty percent of medical students are borrowing over the C So the new loan limits won't go backwards, they won't be retroactive But for new students who are coming up, those students are going to have to figure out a way to close that gap Cauder told us that students may end up having to turn to the private loan system as a solution There they'll face stricter terms and interest rates depending on their credit history As for colleges, some admissions offices are worried that stricter borrowing rules could hurt enrollment Meanwhile, a study released in late twenty twenty five showed that millions of students are headed towards default on their student loans after COVID error relief expired It's unclear if President Trump's goal to address the student debt crisis can be achieved anytime soon I think the administration is hoping that private colleges will bring down tuition and that somehow these loan limits will trickle into making college more affordable. Researchers are skeptical about that, but we'll have to see what happens Here are a few other stories we're following today The UK lost its sixth leader in ten years yesterday, as Kir Starmer formally announced his resignation He teared up as he confirmed the end of his premiersship, just two years after a landslide victory The question my party is asking now. is whether I am best placed to lead us into the next general election I have heard the answer of my parliamentary party to that question And when I leave the biggest job in the country I shall spend more time on the most important job. being the best husband I can to my fantastic wife Vick, who has been a rock by my side through good times and bad and being the best dad I can to my beautiful children Pressure had been building on Starmer for months. He wrestled with his own party over welfare reforms, controversial tax rises, and a set of mishandled scandals, including one involving his former U.S. ammbassador and their connections with Jeffrey Epstein A former top lawyer, Starmer's technratic style ultimately failed to resonate with the public He looks set to be replaced by Andy Burnham, the now former mayor of Manchester Sky News helicopters tracked his train journey all the way from the north of England to London as he was greeted by a mob of photographers. ick named King of the North. hisis supporters refer to him simply as Andy But while he may bring more of a personal touch, the Wall Street Journal notes that he faces an uphill battle against Trump ally Nigel Farage, whose populous pitch has helped upend the country's traditional left right split and draw from Labor's working class base In the US, Alan Greenspan, the chairman of the US Federal Reserve for nearly two decades, died on Monday at the age of one hundred A giant in American economics, he oversaw the central bank through parts of four presidencies and kept rates down and stable through the economic boom of the nineteen nineties. His guiding principles, including a skepticism toward regulation, defined American monetary policy from the end of the Cold War until just before the two thousand eight Wall Street crash which some critics attribute to part of his tenure Greenspan addressed that in the two thousand eight Senate hearing Where do you think you made a mistake then? I made a mistake in presuming the self interest of organizations, specifically banks and others were such is that they were best capable protecting their own shareholders and the equity in the firms. In a statement, the Federal Reserve said that Greenspan, quote helped establish the credibility that remains one of the Federal Reserve's most important assets. And finally, Leonel Messi made another claim to be soccer's goat yesterday after becoming the all time top scorer in the Men's World Cup, scoring both goals in the two nil win against Austria. attack E Mada on the move for the worldorld Champions Al Medida Back here, let's in Dand. San Diego go to Hit. Messy scores the goal to make it the World Cups all time leading scorer. Wonderful moment Messy's first tournament goal came all the way back in two thousand six, a demonstration of his extraordinary longevity Last night brought his total to eighteen For those wondering Cristiano Ronaldo has eight, but then again, who's counting? You can find all these stories and more in the Apple News app. And if you're already listening to the newews app right now, we've got a narrated article coming up next Popular mechanics reports on the Mount Everest of shipwrecks, the sinking of the Andrea Doria, and why it still fascinates divers after seventy years If you're listening to the podcast app, you can follow Apple News Plus narrative to find that story, and I'll be back with the news tomorrow