Two simultaneous shifts altered the financial aid landscape this week: FAFSA completions for the high‑school class of 2026 accelerated sharply, and sweeping federal changes to student‑loan borrowing and repayment are imminent. The National College Attainment Network tracked a 52% rise in FAFSA completions for the class of 2026 versus 2025 through Jan. 23, reflecting an earlier form launch and outreach. At the same time, the One Big Beautiful Bill Act will change rules for new and consolidated borrowers, affecting repayment plans and eligibility. Enrollment managers and financial‑aid leaders must update outreach, packaging and counseling to account for faster application timelines and new repayment regimes.