Major Federal Student Loan Changes and New Online Portal Launched for Defaulted Borrowers

Significant changes to federal student aid are taking effect under the 'One Big Beautiful Bill Act,' impacting loan repayment plans, borrowing limits, and the elimination of Grad PLUS loans for new borrowers. In a related development, the Trump administration's Education and Treasury Departments have launched a new online portal to help defaulted federal student loan borrowers return to good standing, simplifying a historically complex process.