New Federal Student Loan Rules Take Effect | Cedar Rapids News

Big changes hit federal student aid July 1st, sending shockwaves through Iowa universities as they scramble to update guidance. Graduate PLUS loans are gone, annual and total borrowing limits have tightened, and part-time students now face prorated loan amounts. Financial aid teams warn these cuts could hurt students in high-cost fields like healthcare and teaching, especially since details were finalized too late. Schools are rushing to inform students—prioritizing those starting soonest—amid confusion and urgency. While some returning students won’t see major shifts, many grads and parents are now realizing how dramatically their aid packages may change. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/400607cc49917524