One Big Beautiful Bill Act Introduces Major Changes to Student Loan Programs
The One Big Beautiful Bill Act, passed last July, is set to bring significant changes to federal student loan programs starting July 1. The legislation introduces stricter borrowing limits and alters repayment options, affecting both current borrowers and new applicants. Key changes include capping the amount parents can borrow under the Parent PLUS program to $20,000 annually and $65,000 in total per student. The Grad PLUS program, which allowed graduate students to borrow up to the full cost of attendance, has been eliminated. New borrowing limits are set at $20,500 annually for graduate students and $50,000 for professional students. Additionally, part-time students will see their loan amounts adjusted based on their enrollment status. The bill also phases out two income-driven repayment plans by 2028, requiring borrowers to switch to other plans. Anthony Jones, executive director of scholarships and financial aid at the University of Utah, describes the changes as tumultuous, noting the short implement... 
