Federal financial aid rules are due to change in July 2026 after Congress’s recent legislation and Education Department rulemaking: access to some student loans will be narrowed, repayment terms reconfigured, and new grant money will be directed to short‑term career training programs. Officials have been negotiating implementation details with expert panels since November. The changes will alter how families finance postsecondary education, with tighter borrowing windows and retooled repayment options aimed at reducing long‑term exposure for borrowers. The Administration and Education Department have signaled limited flexibility once rules are finalized early in 2026. Policy analysts and financial‑aid officers advise borrowers to review eligibility and repayment counseling now. Separate reporting from consumer outlets warns that millions of delinquent borrowers will see options curtailed next year, making near‑term action on income‑driven plans or consolidation more urgent.