Significant Changes to Federal Student Financial Aid System Set to Take Effect July 1

Major overhauls to the federal student financial aid system, spearheaded by the White House and Congress, are scheduled to be implemented on July 1. These changes will introduce new options for loan repayments and forgiveness, establish new borrowing limits for current students, and provide more funding for low-income individuals pursuing career and technical training through a new 'Workforce Pell' option.