A sweeping package of financial‑aid reforms in the One Big Beautiful Bill will take effect in July 2026, curbing access to certain federal student loans, reshaping repayment rules, and channeling new grant money to short‑term career training programs, according to University Business reporting. Education Department officials have been finalizing implementation terms with a panel of experts since November. At the same time, millions of borrowers who are behind on payments should expect narrower relief options next year. Consumer pieces and guidance stories advise delinquent borrowers to act now to secure viable repayment plans as administrative and legislative changes tighten options. Universities' financial‑aid offices, student borrowers, and nonprofit advisers will be directly impacted: colleges must update counseling practices and support for students navigating new borrowing limits, repayment structures, and expanded short‑term grant programs. Clarification: 'One Big Beautiful Bill' refers to the recently enacted federal law that bundles tax and education provisions affecting student aid and repayment rules beginning in 2026.