Big Student Loan Changes Hit July 1, but Most Borrowers Say They're Not Ready

Big student loan changes hit July 1, but most borrowers say they're not ready

Sweeping federal student loan changes take effect July 1, and experts warn most borrowers are not prepared for what's ahead. "We could see people scrambling, delaying going to school, choosing a different program, using savings, turning to private loans," said Richard Richtmyer, senior editor of student loans at Credible, an online financial marketplace. A new Credible survey finds Americans are largely unprepared or unaware of the 2026 federal …

Big changes arrive July 1 for student borrowers, including in loan repayments

WASHINGTON — The federal student loan system is set to see a dramatic overhaul beginning this summer, and critics warn it likely will make loans more expensive and difficult to obtain for borrowers — driving them to private lenders or…