Education Department finalizes sweeping student loan overhaul

"Federal Student Loans Set for Drastic Overhaul: Stricter Borrowing Limits on the Horizon In a move aimed at reining in rising student debt, the US Education Department has finalized significant changes to federal student loans as part of the sweeping One Big Beautiful Bill Act. Starting July 1, 2026, students will face stricter annual and lifetime borrowing limits, which could have far-reaching implications for higher education financing. The new regulations are designed to address concerns over the growing burden of student loans, but critics argue that they may disproportionately impact low-income and minority students. As the new rules take effect, borrowers and educators alike will be watching closely to see how these changes impact access to higher education."

The Education Department has finalized major changes to federal student loans under the One Big Beautiful Bill Act, effective July 1, 2026. The overhaul introduces strict annual and lifetime borrowing ...