Changes to the federal lending system are set to take effect. Borrowers in Trophy Club and elsewhere will see the impact of these changes. Financial planners and student advocacy groups have weighed in on the effects, which will vary by borrower.

Some borrowers will notice little change in their monthly payments. However, others, particularly those with lower incomes, may face increases. The overhaul of the lending system aims to simplify the process.

Further details on the changes and their impact can be found through NBC 5 Dallas-Fort Worth. The changes are part of a larger policy package signed into law by President Donald Trump.