New federal rules tied to the law known colloquially as the 'One Big Beautiful Bill' will curb access to billions in student loans, change repayment frameworks and create new grant funding for short‑term workforce training programs. The Education Department has negotiated implementation details with an expert panel and expects to finalize terms in early 2026, with most changes slated to take effect in July 2026. Officials say the package will shift federal support toward shorter, workforce‑aligned credentials while tightening eligibility for traditional student loans and altering borrower repayment options. Colleges and financial‑aid offices must update packaging practices, counsel students on altered borrowing limits, and align certificate and short‑term programs to new grant criteria. Bursars, registrars and career centers should coordinate now: revise net‑price calculations, communicate new repayment timelines to enrolled borrowers, and develop employer‑aligned short‑term offerings to capture redirected grant funding.