The One Big Beautiful Bill Act (OBBBA) introduces major changes to federal student loans.
Most of these new rules are slated to take effect on July 1, 2026, impacting the 2026-2027 academic year.
Important Update:
The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025 and makes significant changes to federal financial aid programs, including loan limits, repayment options, and eligibility requirements.
Most changes take effect July 1, 2026
This information reflects the current understanding and guidance from the U.S. Department of Education as of May 2026. This page will be updated as additional guidance is issued.
What we know as of June 2026:
I am a:
(select an option, more than one may apply)
Current Undergraduate Student or Legacy Student
You are currently enrolled in an undergraduate program and will continue in the 2026-2027 academic year.
Future Undergraduate Student or Non-Legacy Student
You are starting an undergraduate program in the Fall of 2026 or later.
Current Graduate Student or Legacy Student
You are currently enrolled in a graduate program and will continue in the 2026-2027 academic year.
Future Graduate Student or Legacy Student
You are starting a graduate program in the Fall of 2026 or later.
Borrower Currently In School
You're a federal loan borrower, currently in school/in deferment.
Borrower Currently in Repayment
You're a federal loan borrower, currently repaying your student loan(s).
