Sweeping changes are coming to student loans, courtesy of President Trump’s so-called "big beautiful bill." Almost everyone with a federal loan for higher education will be affected — including the more than 9 million Americans older than age 50 with student loans — as well as families who will need to borrow in the future to cover college costs.
The new rules, which kick in next July, reduce the number of payment plans available to families to repay college loans to a single option for parents and two for students, based on loan size or income.
