US EditionOne Big Beautiful Bill Act Changes Form 1099 Reporting For Gig Workers And Those Who Use Payment Apps Like PayPal For Business
UNITED STATES, JUL 18 – The legislation introduces major changes to student loan repayment plans, borrowing limits, Pell Grant eligibility, and college funding accountability, affecting millions of borrowers nationwide.
- On July 4, President Donald Trump signed the `One Big Beautiful Bill Act`, introducing new guidelines for higher education financing.
- Under the legislation, the One Big Beautiful Bill Act introduces a tiered tax model based on endowment-per-capita and ties federal loan access to graduates’ earnings.
- Pomona College President Gabi Star said it `alleviates some stress regarding endowment taxes` and Strom Thacker noted Pitzer’s exclusion, as institutions with fewer than 3,000 students are exempt.
- Many Claremont students will face changes to Pell Grant eligibility, and restrictions could impact need-blind admissions policies.
- Effective July 1, 2026, Grad PLUS loans will stop being available, and borrowers must adopt a new repayment plan by July 1, 2028.
72 Articles
72 Articles
A brutal – not beautiful bill – cuts consumer protection funding in half
Charlene Crowell is a senior fellow with the Center for Responsible Lending. This week she warns that the newly passed budget bill slashes consumer protection and student loan support, threatening financial stability for millions while benefiting the wealthy.
8 Major Student Loan Changes From Trump’s Budget Bill: Next Steps for Borrowers
Student loan borrowers face a new status quo after Congress and President Donald Trump signed off on a massive budget reconciliation agreement earlier this month — the so-called “one big, beautiful bill”. The changes are significant, but not immediate. Most…
Trump is kicking off sweeping changes to student-loan repayment
President Donald Trump began rolling out student-loan repayment changes from his spending bill.Joe Raedle via Getty ImagesThe Department of Education is beginning to roll out the student-loan repayment changes from Trump's spending bill.They include changes to eligibility for income-based repayment plans and new borrowing limits.The bill also creates two new income-driven repayment plans, which won't be implemented until July 1, 2026.Student-loa…
One Big Beautiful Bill Act Changes Form 1099 Reporting For Gig Workers And Those Who Use Payment Apps Like PayPal For Business
Under the new law, reporting thresholds for Form 1099-K (for payment card and third-party network transactions), Form 1099-MISC (for payments not covered by other 1099 forms), and Form 1099-NEC (for nonemployee compensation) have been changed.
Massachusetts AG reaches settlement with student loan company, Earnest Operations LLC
Massachusetts Attorney General Andrea Joy Campbell has reached a $2.5 million settlement with Earnest Operations LLC, a Delaware-based student loan company. The settlement resolves allegations that the company’s lending practices violated consumer protection and fair lending laws, in part through the use of artificial intelligence (AI) models that could allegedly result in disparate harm to Black, Hispanic, and non-citizen applicants and borrowe…
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