Big changes coming for student loan system starting July 1

[nitpicked]

https://wtop.com/education/2026/06/student-loan-overhaul-caps-borrowing-and-replaces-repayment-plans/

Big changes coming next month will impact how much money people can borrow for college — and how they pay it back.
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Under the new limits, parent borrowers are capped at $20,000 per year and $65,000 in total. Graduate school loans are capped at $20,500 a year and $100,000 total, while professional programs like law and medical school can go up to $50,000 a year and $200,000 total, which could leave a gap between tuition costs and available loans.
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That new option, known as the Repayment Assistance Plan, ties payments to income. (snip) Another new option is a Tiered Standard repayment plan, which, according to the Department of Education, will offer fixed monthly payments based on the borrower’s outstanding principal balance.
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He says the key is to know what you have now before the rules change. “If you have been borrowing and you want to be subject to the old rules, you may not want to tap new programs and things, because you’ll automatically be put into the new program if you borrow new money,” he said.