Student Life & Campus — 2026-05-17
Federal student loan interest rates are set to rise for the 2026-27 school year, while a new wave of default data shows 22% of borrowers are now in default as Treasury assumes collections. Meanwhile, USC topped Niche's national rankings for best student life, and a surprise commencement speaker at NC State pledged to pay off graduating textile students' final-year loans.
Student Life & Campus — 2026-05-17
Campus News
USC and UCLA Lead Nation in Student Life Rankings
Southern California dominated Niche's 2026 rankings for best student life in America. USC claimed the top spot, with students and alumni praising its "quintessential college experience," expansive campus culture, and wide range of clubs and social opportunities. UCLA came in third. University of Georgia also featured prominently in the rankings.
Commencement Speaker Pays Off Students' Loans
In a memorable graduation moment, Anil Kochhar — commencement speaker at North Carolina State University's College of Textiles — announced he would personally pay off the final-year loans of graduating textile students. Kochhar said he hopes the graduates can leave with "greater freedom to pursue goals."
Student Life
Is College Still Worth It? UC Cincinnati Weighs In
A new guide published by the University of Cincinnati this week examines whether college is still worth the cost in 2026, exploring tuition debt loads, co-op work programs, career outcomes, and alternatives to four-year degrees. The guide reflects growing national anxiety about the return on investment of higher education as student loan rules shift dramatically.
Money & Debt
Student Loan Interest Rates Rising for 2026-27
Federal student loan interest rates are confirmed to be rising for the upcoming academic year, based on the May 10-year Treasury auction. Rates for 2026-27 will be:
- Undergraduates: 6.52%
- Graduate students: 8.07%
- PLUS loans (parents and grad students): 9.07%
These represent increases from the prior year and will apply to all new federal loans disbursed beginning July 1, 2026.
Default Surge: 22% of Borrowers Now in Default as Treasury Takes Over
New data from the Federal Reserve Bank of New York confirms that federal student loan defaults have surged sharply since the end of pandemic-era protections. Serious delinquencies have hit 10.3%, and 22% of borrowers are now in default — with federal student loan debt approaching $1.7 trillion. The Trump administration has transferred collections authority from the Department of Education to the Treasury Department as part of its broader effort to dismantle the Education Department.
Big Changes Arriving July 1 for Borrowers
A sweeping overhaul of federal student loan repayment takes effect July 1, 2026. KCUR reports the changes will significantly reshape options for both current and future borrowers. For loans taken out after July 1, 2026, borrowers will have only two repayment plans: a new Repayment Assistance Plan (RAP) with income-based payments as low as $10/month and loan forgiveness after 30 years, and a Tiered Standard Plan with fixed payments over 10, 15, 20, or 25 years — but no forgiveness component. Existing income-driven repayment plans, including IBR, will be preserved only for those who completed borrowing before July 1, 2026.
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