Education Department Finalizes Rule to Reduce College Costs and Streamline Loan Repayment

The U.S. Department of Education has issued a final rule designed to lower college expenses and simplify the student loan repayment process. This regulation, part of a broader legislative act, introduces loan limits, new income-driven repayment plans, and additional protections for students and borrowers. Most of these changes are scheduled to become effective on July 1, 2026, with the department anticipating substantial savings for taxpayers and a reduction in overall student debt.