Federal Student Loan Program Undergoes Significant Revisions

AI-generated NewsSnap summary based on source reporting.
Published: 2026-07-07
Category: education
Source: American Council on Education
Original source

Major changes to federal student loan programs, enacted by the One Big Beautiful Bill Act, are now in effect. These revisions include the removal of Grad PLUS loans for new borrowers, new borrowing limits for graduate students, and the introduction of new repayment options. Additionally, the Department of Education has reduced interest rates by 1% for those using auto-pay.

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