Federal changes set to take effect in mid‑2026 will reshape student borrowing, repayment options, and grant availability. The One Big Beautiful Bill mandates tighter access to certain federal student loans, a reconfiguration of repayment rules, and new grant funding targeted at short‑term career training programs. Education Department negotiations with experts have fleshed out implementation details, and institutions will need to update financial‑aid offices and advising practices ahead of July rule changes. Borrowers—especially those behind on payments—should expect narrowed relief options and altered enrollment‑based benefits.