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CNBC
3 days ago
- Business
- CNBC
Federal student loans will still be a 'better bet' than private—even with coming changes, experts say
The question of whether college students should take out federal or private student loans to pay for their education may have just gotten harder to answer. That's due to a number of changes in President Donald Trump's so-called "big beautiful bill" that will affect many current and future federal student loan borrowers. The bill undoes several of the reforms President Joe Biden made during his time in office, such as protections for defrauded borrowers. It also eliminates repayment options and benefits like economic hardship deferrals that predate the Biden administration. Historically, federal student loans have generally been a better deal for borrowers, Kate Wood, a lending expert at NerdWallet, tells CNBC Make It. The coming changes won't necessarily make federal loans a "poor choice," she says, but the decision may not be as obvious as it once was. Lesley Turner, an associate professor at the University of Chicago Harris School of Public Policy, agrees. Turner has published several research papers on the role and impact of federal financing in higher education and previously served as an economic adviser within the Department of Education. "By reducing the available protections for federal student loans, all else equal, that does make private student loans more attractive," Turner says. If you're weighing private versus federal student loans to pay for your education, there are generally five major factors to consider. Here's a look at each. If you're enrolled at least part-time at an academic institution that participates in the federal direct loan program, you may be eligible to receive federal student loans. You must submit a Free Application for Federal Student Aid to see if you qualify, but there are no income limits. You must be a U.S. citizen or permanent resident, have a valid Social Security number, not be in default on another federal student loan and have a high school diploma or equivalent credential. Private student loans are subject to lender approval. It can be very difficult to get approved for a loan with poor or no credit history, but you can apply with a cosigner. You may have to meet enrollment, income and other eligibility requirements, depending on the lender. Currently, federal student loan borrowers have several options for repayment plans that best fit their needs. There's a standard repayment plan that keeps monthly payments fixed over the life of the loan and several income-driven repayment plans that are designed to make monthly payments affordable for lower-income borrowers. On the latter plans, borrowers have to certify their income annually, which can raise or lower monthly payments. Trump's policy bill narrows the number of available payment plans for future borrowers. Borrowers currently on the Pay as You Earn, Saving on a Valuable Education and Income-Contingent income-driven repayment plans will have to switch payment plans as the policy eliminates these options. But those borrowers will still have a standard and an income-driven repayment option. Private student loan terms can vary by lender and loan, Wood says. You'll typically have better options with federal loans as private loans typically don't offer income-driven payment plans. Repayment timelines are often shorter for private loans too, ranging from eight to 12 years, compared with up to 25 years for federal loans. All federal student loan interest rates are fixed for the life of the loan and determined by Congress each year. For the upcoming 2025-26 school year, they are 6.39% for undergraduate loans, 7.94% for graduate loans and 8.94% for parent and grad PLUS loans. Borrowers don't need a credit history to qualify and a good or bad credit score won't impact their interest rate. Undergraduate borrowers with demonstrated financial need have access to direct subsidized loans. With these loans, the federal government pays the interest while the borrower is in school and during certain deferment periods. Unsubsidized and subsidized loans have the same fixed interest rates. With private loans, however, your interest rate may be fixed or variable, depending on your loan terms. Lenders assign interest rates depending on the broader rate environment and borrowers' creditworthiness. It's feasible some creditworthy borrowers — or borrowers who have a cosigner with good credit — could get a better interest rate with a private loan. But it's fairly uncommon, Turner says. She cites a 2012 Consumer Financial Protection Borrower study — "the best evidence we have," she says — that found the average student loan borrower was always offered a higher interest rate from private lenders than the federal interest rate. A major advantage of federal student loans has been the economic hardship and unemployment deferments that allow current borrowers to pause their monthly payments for a limited period of time when experiencing certain financial hardships, Wood says. Currently, borrowers can receive economic hardship and unemployment deferments for up to three years and general forbearances for a maximum of 12 months at a time. However, Trump's policy reforms eliminate these options for future borrowers. Anyone who takes out loans after July 1, 2027 will be required to make monthly payments unless their loan servicer approves a general forbearance for situations like financial difficulties, medical expenses or changes in employment. The new policy will limit forbearances to a maximum of nine months in a two-year period. "On one hand, that's a lot worse than it used to be, but that's probably still better than what a lot of private lenders are going to offer you," Wood says. There's no law or regulation requiring private lenders to help you out if you fall on hard times while paying back your loan. Like credit card companies or other lenders, you may be able to negotiate a pause on your payments for a brief period if you have a good relationship with the lender and a history of on-time payments, but "it may come down to what your loan agreement allows," Wood adds. Plus, interest will likely continue accruing if you do successfully pause private loan payments, while interest may be paused for some federal loan forbearance periods. Though federal student loans may offer better terms, you may be limited in the amount you can borrow. Undergraduate dependent borrowers have a lifetime limit of $31,000 and annual limits depending on what year of school you're entering. The annual limits are as follows: Graduate and professional students have an annual loan limit of $20,500 and a lifetime limit of $138,500 including any amounts borrowed in undergrad. Grad students and parents of undergraduate students can also currently borrow up to the cost of attendance after any aid through PLUS loans, which have higher interest rates and slightly different protections than federal direct loans. The new law doesn't change the current loan limits for undergraduate students, but it does impose lower borrowing limits for graduate loans and parents taking out loans on behalf of undergraduate students by eliminating grad PLUS loans and capping parent PLUS loans for undergraduate students at $20,000 per student per year, up to an overall total of $65,000 per student. After July 1, 2026, grad students will be able to borrow up to $20,500 a year and a maximum of $100,000 over the course of their studies — not including undergraduate borrowing — or $50,000 a year and $200,000 in total for professional studies like law or medicine. For private loans, however, "ostensibly, no limits exist," Wood says. The amount a borrower can receive is up to the lender's discretion. "The amount that they're going to be open to lending you is going to depend on your characteristics as a borrower," Wood says. "Is your credit strong? Do you pay your bills on time? Are you likely to pay back this loan? The stronger financially that you are, the more a lender will be open to lending you." Though the list of benefits may be shrinking, both Wood and Turner recommend students and families exhaust their federal student loan options first before turning to private lenders if they need to borrow to pay for school. "For the majority of borrowers, federal loans will be the better product in terms of both interest rates and the protections that continue to exist after the [new Repayment Assistance Plan] goes into effect," Turner says. Not everyone will qualify for federal student loans, but you won't know until you file a FAFSA. The FAFSA determines whether you qualify for federal grants and scholarships that you don't have to pay back, as well as federal loans. "Everybody should still be submitting your FAFSA," Wood says. "You're not committing to anything. You're just finding out what you could get."
Mint
10-06-2025
- Business
- Mint
Afcons Infra shares: Chenab Bridge inauguration puts focus on this Shapoorji Pallonji Group stock. Time to buy?
Afcons Infrastructure share price in focus: Afcons Infrastructure shares have been on the rise, gaining over 6% in three sessions, as investors cheered the company's role in constructing the iconic Chenab Bridge in Jammu and Kashmir, the world's highest railway bridge. The feat has drawn fresh attention to the Shapoorji Pallonji Group company, further boosted by multiple new order wins and a strengthening order book. Situated at a height of 359 meters above the Chenab River and built at a cost of ₹ 1,486 crore, the bridge is 35 meters taller than the iconic Eiffel Tower in Paris. It was inaugurated on Friday by Prime Minister Narendra Modi, along with the Anji Khad Bridge and the Udhampur-Srinagar-Baramulla Rail Link. Overcoming the initial challenges posed by the remote, mountainous terrain of the Himalayas, transporting equipment and materials to the site was a major hurdle. Afcons initially depended on mules and horses to access the location before eventually constructing temporary roads to ease the movement of men and machinery. As the iconic Chenab Rail Bridge garners global attention, one of the key contributors to its successful construction is Professor G. Madhavi Latha, a geotechnical expert from the Indian Institute of Science (IISc), Bengaluru, who was associated with the project for 17 years. G. Madhavi Latha worked closely with Afcons, the contractor of the bridge, in the planning, design, and construction of the structure, focusing on the obstacles posed by the terrain. Her commitment to the project has earned widespread praise, with congratulatory messages flooding social media—from Andhra Pradesh Chief Minister N. Chandrababu Naidu to Mahindra Group Chairman Anand Mahindra. Across platforms, people are applauding G. Madhavi Latha's crucial role in making this engineering marvel a reality. Amid the praise following the Chenab Bridge inauguration, Professor G. Madhavi Latha took to LinkedIn to express gratitude and clarify her role. She credited Indian Railways and Afcons for the project's success, highlighting the contributions of thousands behind the scenes. Downplaying media labels like 'the woman behind the mission,' she urged the public to recognise the many unsung heroes behind the engineering feat. Meanwhile, she recently published a paper in the Indian Geotechnical Journal's women's special issue titled 'Design as You Go: The Case Study of Chenab Railway Bridge.' The paper describes how the design of the bridge has evolved continuously, with the overall structure, location, and type being the only constants to suit the geological conditions of the site. The company has expanded its order book significantly in recent weeks, securing multiple new contracts — including a ₹ 700 crore order from Reliance Industries on Saturday. According to the company, this order involves construction work related to the Vinyl Projects at Dahej, Gujarat. Prior to this, on May 30, the company was declared the lowest bidder (L1) for a water supply project covering 353 villages in the Dungarpur district. The project, titled 'Kadana Back Water (Mahi Dam) Package-1,' is valued at ₹ 463.50 crore. Afcons Infrastructure debuted on Indian stock exchanges in November last year, with its shares listing at ₹ 426.00 apiece, an 8% discount to the issue price of ₹ 463.00, as the IPO saw lukewarm demand from retail investors. Since its listing, the stock has remained volatile. At the current trading price of ₹ 447 apiece, it is down about 3.5% from the IPO price and nearly 21.6% below its recent high of ₹ 570. Despite the stock's lack of clear upward direction, analysts remain optimistic about the company's growth prospects, citing its growing order book, strong track record in executing complex and unique EPC projects both in India and abroad, and stable financial performance over the years. Commenting on the outlook for the stock, Jigar S Patel, Senior Manager - Technical Research, Anand Rathi Shares and Stock Brokers, said Afcons has recently broken above the key resistance level of 440, which coincides with the monthly R3 Camarilla pivot, indicating a potential shift in momentum. "If the stock manages to sustain above 440 for the next 2–3 sessions, it could pave the way for an upward move towards 480. In the short term, support is seen near 430, while resistance lies around 460," Patel said.
Mint
10-06-2025
- Business
- Mint
Afcons Infra shares: Chenab Bridge inauguration puts focus on this Shapoorji Pallonji Group stock
Afcons Infrastructure share price in focus: Afcons Infrastructure shares have been on the rise, gaining over 6% in three sessions, as investors cheered the company's role in constructing the iconic Chenab Bridge in Jammu and Kashmir, the world's highest railway bridge. The feat has drawn fresh attention to the Shapoorji Pallonji Group company, further boosted by multiple new order wins and a strengthening order book. Situated at a height of 359 meters above the Chenab River and built at a cost of ₹ 1,486 crore, the bridge is 35 meters taller than the iconic Eiffel Tower in Paris. It was inaugurated on Friday by Prime Minister Narendra Modi, along with the Anji Khad Bridge and the Udhampur-Srinagar-Baramulla Rail Link. Overcoming the initial challenges posed by the remote, mountainous terrain of the Himalayas, transporting equipment and materials to the site was a major hurdle. Afcons initially depended on mules and horses to access the location before eventually constructing temporary roads to ease the movement of men and machinery. As the iconic Chenab Rail Bridge garners global attention, one of the key contributors to its successful construction is Professor G. Madhavi Latha, a geotechnical expert from the Indian Institute of Science (IISc), Bengaluru, who was associated with the project for 17 years. G. Madhavi Latha worked closely with Afcons, the contractor of the bridge, in the planning, design, and construction of the structure, focusing on the obstacles posed by the terrain. Her commitment to the project has earned widespread praise, with congratulatory messages flooding social media—from Andhra Pradesh Chief Minister N. Chandrababu Naidu to Mahindra Group Chairman Anand Mahindra. Across platforms, people are applauding G. Madhavi Latha's crucial role in making this engineering marvel a reality. Amid the praise following the Chenab Bridge inauguration, Professor G. Madhavi Latha took to LinkedIn to express gratitude and clarify her role. She credited Indian Railways and Afcons for the project's success, highlighting the contributions of thousands behind the scenes. Downplaying media labels like 'the woman behind the mission,' she urged the public to recognise the many unsung heroes behind the engineering feat. Meanwhile, she recently published a paper in the Indian Geotechnical Journal's women's special issue titled 'Design as You Go: The Case Study of Chenab Railway Bridge.' The paper describes how the design of the bridge has evolved continuously, with the overall structure, location, and type being the only constants to suit the geological conditions of the site. The company has expanded its order book significantly in recent weeks, securing multiple new contracts — including a ₹ 700 crore order from Reliance Industries on Saturday. According to the company, this order involves construction work related to the Vinyl Projects at Dahej, Gujarat. Prior to this, on May 30, the company was declared the lowest bidder (L1) for a water supply project covering 353 villages in the Dungarpur district. The project, titled 'Kadana Back Water (Mahi Dam) Package-1,' is valued at ₹ 463.50 crore. Afcons Infrastructure debuted on Indian stock exchanges in November last year, with its shares listing at ₹ 426.00 apiece, an 8% discount to the issue price of ₹ 463.00, as the IPO saw lukewarm demand from retail investors. Since its listing, the stock has remained volatile. At the current trading price of ₹ 447 apiece, it is down about 3.5% from the IPO price and nearly 21.6% below its recent high of ₹ 570. Despite the stock's lack of clear upward direction, analysts remain optimistic about the company's growth prospects, citing its growing order book, strong track record in executing complex and unique EPC projects both in India and abroad, and stable financial performance over the years. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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First Post
07-06-2025
- Science
- First Post
Who is Madhavi Latha, IISc professor who spent 17 years helping build J&K's Chenab Bridge?
The Chenab Bridge, the world's highest railway arch bridge, has been inaugurated. G Madhavi Latha, a professor at Bengaluru's Indian Institute of Science, worked on the project as a geotechnical consultant for 17 years. The construction was beset with challenges, but she and her team adopted 'design-as-you-go' approach for the engineering marvel read more The Chenab Bridge in Jammu and Kashmir has been inaugurated by Prime Minister Narendra Modi. The world's highest railway arch bridge, unveiled on Friday (June 6), is an engineering marvel. It is a part of the Udhampur-Srinagar-Baramulla rail link project (USBRL), which will provide all-weather rail connectivity between the Kashmir Valley and the rest of India. The Chenab Bridge stands high at 359 metres (1,178 feet) above the Chenab riverbed, 35 metres taller than the Paris' Eiffel Tower. STORY CONTINUES BELOW THIS AD The construction of the bridge was a major challenge due to the region's harsh terrain. An expert in rock engineering gave her 17 years to help build the 1,315 metres long bridge. But who is she? We will take a look. Madhavi Latha's role in building Chenab Bridge G Madhavi Latha, a professor in the Department of Civil Engineering at Bengaluru's Indian Institute of Science (IISc), spent 17 years on the Chenab Bridge project as a geotechnical consultant. A specialist in rock engineering, she was roped in by the Northern Railways and the Chenab bridge project contractor Afcons to advise them on slope stabilisation and bridge foundation. This was to ensure the bridge could withstand very harsh natural conditions, including wind speeds of more than 220 kmph. With a lifespan of 120 years, the Chenab bridge can resist high-velocity winds with speeds up to 260 kmph, extreme temperatures, earthquakes, and hydrological impacts if water levels rise. The Chenab bridge's design and construction have been done by a joint venture comprising Afcons Infrastructure, South Korea-based Ultra Construction & Engineering Company, and VSL India. Speaking to Deccan Herald (DH), Latha said, 'IISc was the consultant for slope stabilisation and foundation, whereas foreign firms were involved in making the steel arch. Planning of the bridge started in 2005, and it was completed in 2022 when trial runs with full-speed trains were carried out.' STORY CONTINUES BELOW THIS AD This unsupported steel arch has a length of about half a kilometre. It rests on the left and right abutments, along with eight piers, on the slopes. During the construction, Professor Latha's team adopted a 'design-as-you-go" approach, meaning they had to adapt in real-time depending on geological conditions such as fractured rocks, hidden cavities, and different rock properties, not evident in early surveys. Last month, the article, Design as You Go: The Case Study of Chenab Railway Bridge, published in the Women's Special issue of the Indian Geotechnical Journal by Dr Latha laid out the challenges that they faced while constructing the bridge over the past 17 years. 'The construction of a civil engineering marvel like the Chenab bridge posed many challenges from planning to completion. A rigid design with fixed dimensions and pre-determined solutions would not have been feasible, considering the continuously evolving geological and geotechnical conditions,' she noted in the article. 'The design-as-you-go approach adopted in this project made the construction of the bridge possible despite the critical challenges encountered in every stage during the 17 years of its construction period,' the professor added. STORY CONTINUES BELOW THIS AD Due to high rock discontinuities and steep slopes, a major challenge was to construct the Chenab bridge 's arch abutments and foundations for piers on the slopes. The solution found by Latha and other project engineers was to use the technique of cement grouting with pieces of rock and steel rods for reinforcement, reported DH. Who is Madhavi Latha? Professor Madhavi Latha completed her PhD in geotechnical engineering from the Indian Institute of Technology (IIT) Madras. She was teaching at IIT Guwahati before she joined the IISc in 2004. Dr Latha, who was the first female faculty member at IISc at the time, had to fight to get a toilet for women. 'Back then, there were no exclusive toilets for women in the department. There were only men's toilets. I had to really fight to get a women's toilet in the geotechnical engineering building,' IISc says on its website, quoting the professor. Soon after PM Modi inaugurated the Chenab bridge, IISc took to X to laud her, 'We are proud of Prof Madhavi Latha & her team's contribution to the #ChenabBridge inaugurated by Hon'ble PM Narendra Modi. The team worked on stability of slopes, design & construction of foundations, design of slope stabilisation systems, incl. rock anchors to withstand hazards.' STORY CONTINUES BELOW THIS AD BJP MP Tejasvi Surya also hailed Latha for her contributions to building the Chenab bridge. Congratulating the civil engineer, he wrote, 'Your role in this engineering marvel inspires young minds, especially women in STEM, to lead in nation-building.' Congratulations to Prof. Madhavi Latha of @iiscbangalore for your remarkable contribution to the #ChenabBridge — the world's highest railway arch bridge, inaugurated today by PM Shri @NarendraModi. Your role in this engineering marvel inspires young minds, especially women in… — Tejasvi Surya (@Tejasvi_Surya) June 6, 2025 Latha is currently the Chair of the Centre for Sustainable Technologies (CST). She has won laurels over the years. In 2021, Latha bagged the Best Woman Geotechnical Researcher award by the Indian Geotechnical Society. She also made it to the Top 75 Women in STEAM (Science, Technology, Engineering, Arts and Mathematics) of India in 2022. STORY CONTINUES BELOW THIS AD With inputs from agencies
Time of India
07-06-2025
- Science
- Time of India
Meet Dr Madhavi Latha, the IISc professor who dedicated 17 years for the Chenab Bridge
The Chenab Bridge in Jammu and Kashmir is the highest bridge in the world and was inaugurated by Prime Minister Narendra Modi on Friday. The project is part of the 272 km Udhampur-Srinagar-Baramulla Railway Link (USBRL), which was approved in 2003. One of the major contributors to the construction of the engineering marvel is Dr G Madhavi Latha , a professor at the Indian Institute of Science ( IISc ) in Bengaluru. She was involved for 17 years in the Chenab Bridge project as a geotechnical consultant. Latha worked closely with Afcons, the contractor of the bridge, in the planning, design and construction of the structure, focusing on the obstacles due to the terrain. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Chuck Norris Begs Seniors: Avoid These 3 Foods Like The Plague Roundhouse Provisions Learn More Undo Who Is G Madhavi Latha? Madhavi Latha is currently a HAG professor at IISc. She completed her in Civil Engineering in 1992 from the Jawaharlal Nehru Technological University, where she achieved first class with distinction. She then bagged a gold medal as an student at the National Institute of Technology, Warangal with a specialisation in Geotechnical Engineering . Further, Latha completed her doctorate from IIT-Madras in 2000 in Geotechnical Engineering. Live Events She has received several awards over the years, including the Best Woman Geotechnical Researcher award by the Indian Geotechnical Society in 2021. She was also named in the Top 75 Women in STEAM of India in 2022. Role In Chenab Bridge Project The bridge is an extremely challenging project due to the adverse topography, weather conditions and remote location. Latha's team adopted a 'design-as-you-go approach' to overcome the obstacles. They innovated in real time based on geological conditions such as fractured rocks, hidden cavities, and varying rock properties, which were not evident in early surveys. The team made complex calculations and design modifications to work around the actual rock mass conditions they found during the construction. Latha's contributions included advice on the design and placement of rock anchors to improve stability. She has recently published a paper in the Indian Geotechnical Journal's women's special issue titled 'Design as You Go: The Case Study of Chenab Railway Bridge.' The paper describes how the design of the bridge has evolved continuously, with the overall structure, location and type being the only constants to suit the geological conditions of the site. About Chenab Bridge The Chenab Bridge, described as the "biggest civil-engineering challenge faced by any railway project in India in recent history' by the government is built at a cost of Rs 1,486 crore. The 359-metre bridge is taller than the Eiffel Tower by 35 metres. It is set to improve connectivity in the Kashmir valley.
