|
On July 4, President Trump signed Public Law 119-21, also known as the "One Big Beautiful Bill." This legislation largely encapsulates the president’s agenda and includes many provisions that impact higher education. The most controversial of these are lifetime caps on federal student loans. In the initial legislation from the House of Representatives, graduate and professional loans were capped at $150,000. The final bill caps them at $200,000. It also eliminates Grad Plus loans, which allowed borrowers to take loans up to the full cost of attendance.
A summary of the key provisions can be found here. A separate summary focused explicitly on the student loan provisions can be accessed here.
Speaker of the House Mike Johnson said he expects a second reconciliation package to be introduced and passed in the fall, once Congress returns from the August recess. It is unclear, at this point, what that package will contain.
|