Federal student loan borrowers facing new changes

Millions of federal student loan borrowers are facing new rules today as changes under the federal government's tax and spending law take effect. We spoke with Megan Walter, Senior Policy Analyst with the National Association of Student Financial Aid Administrators to help break down these changes. “The One Big Beautiful Bill, which was signed into law last July 4, 2025, has really created the first significant changes to the federal student aid system in a couple of decades,” says Walter.