Extensive Federal Student Financial Aid Reforms Set for July 2026 Implementation

Major federal student financial aid changes, stemming from the 'One Big Beautiful Bill Act,' are scheduled to take effect on July 1, 2026. These reforms will introduce new loan limits for all student levels, phase out the SAVE program affecting millions, and alter Pell Grant eligibility criteria. The legislation also expands the Workforce Pell Grant Program to support short-term training.