A new law, championed by former President Trump and touted as a "big, beautiful bill," introduces significant changes to federal student loan programs. The legislation aims to streamline repayment options by reducing the number available and places limits on the maximum amount individuals can borrow for higher education. The exact impact on current and future borrowers is still being assessed, but financial experts anticipate both potential benefits, such as simplified repayment processes, and drawbacks, including reduced access to funding for some students.