Volume VI | June 2026

In this issue

July 1 brings big changes to student loans

The Lela Difference

Lela RefiHELP

Find out if you qualify

July 1 brings big changes to student loans

There's a Louisiana nonprofit option you should consider.

Student loans are in the news right now. And the headlines are complicated.

The federal student loan system is undergoing its largest overhaul in decades. New repayment rules, eliminated programs, and shrinking options are creating understandable uncertainty for anyone trying to figure out their next move.

Borrowers who were enrolled in the SAVE plan, one of the most widely used income-driven repayment options, are now being transitioned out, as the U.S. Department of Education will no longer enroll new borrowers in the program.

If you're sorting through what this means for you, you're not alone And if you're ready to explore more affordable funding plans, there's a Louisiana option you should consider.

Most people refinance their loans with large for-profit lenders they’ve heard about through advertising or online searches. Lela is a local nonprofit with a very different approach to college finance.

The Louisiana Education Loan Authority (Lela), Louisiana's statewide, nonprofit education lender, is committed to making higher education more accessible and affordable for the people of Louisiana.

Lela has help more than 465,000 Louisiana students and families with free FAFSA assistance, college planning resources and lower-cost college financing. Lela isn't answering to shareholders. It's answering to you.

WHAT’S CHANGING JULY 1 🗓️

The headlines, from sources you can trust.

Federal student loan changes are generating a lot of coverage — and a lot of confusion. These three articles help cut through the noise.

NPR, Cory Turner, June 10, 2026

A guide to every change — and what applies to you

An interactive explainer that lets you find guidance specific to your borrower situation.

Read the NPR guide →

CBS News MoneyWatch,

Mary Cunningham, June 1, 2026

The big picture on July 1

A clear overview of what’s changing — and what current borrowers can still do.

Read the CBS News story →

CNBC Personal Finance, Annie Nova,

May 29, 2026

How to choose between the two new repayment plans

A decision-focused breakdown of RAP vs. the new Standard Plan, with guidance from nonprofit student loan advisors.

Read the CNBC story →

Have questions about how these changes affect your loans? Email Lela at info@lela.org.

Benefits of choosing Lela, your local

nonprofit education partner

Through the LelaRefiHELP higher education loan program, Louisiana residents may be able to consolidate multiple loans into one, lower their interest rate, and simplify their monthly payment, with advantages the national for-profit lenders don't offer:

✅ Fixed rates only. Unlike many national for-profit lenders, Lela and other state-based lenders typically offer fixed rate loans only instead of variable rates, which are riskier for borrowers. With fixed rates, the rate you secure for your loan today will remain the same for the life of the loan.

✅ No origination or processing fees. Lela RefiHELP carries no fees at all.

✅ An autopay discount. Borrowers who enroll in automatic monthly payments earn a 0.25% interest rate reduction.

✅ Flexible repayment terms. When you apply, you choose the repayment term that works best for your needs. You can work with Lela representatives if you need to adjust.

✅ Free college planning support. Lela borrowers have access to free college financial aid assistance through the Lela HELPline at (800) 228-4755.

✅ A track record in Louisiana. More than 460,000 students have received financing or outreach assistance since Lela's inception in 1984.

Learn more about Lela's approach to refinancing and pre-qualify at no risk to your cre at LelaRefiHELP.org.

An Important note

Refinancing federal loans means converting them to a private loan, and that means giving up certain federal protections, including income-driven repayment options and forgiveness programs. That trade-off may not be right for everyone.

If refinancing is the right move for your situation, LelaRefiHELP is worth a serious look. If it isn't, Lela can help you figure out what is.