schools
Student loan changes take effect with new payment plans, borrowing caps
By Kadia Tubman at WXYZ Channel 7 (ABC Detroit) - News
· July 1, 2026
· 2 min read
President Donald Trump's tax and spending bill has triggered sweeping changes to federal student loans, affecting both current borrowers and future students.The United States has nearly 43 million people who owe a combined $1.7 trillion in student loan debt. New rules now in effect could change h...
Key takeaway RELATED STORY | Student loan borrowers can get a 1% interest rate cut with one simple change"There's really two buckets of changes," Betsy Mayotte with the Institute of Student Loan Advisors said.
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Category: schools ·
Published: July 1, 2026 ·
Source: WXYZ Channel 7 (ABC Detroit) - News ·
Reading time: 2 min
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Frequently asked about this story
What is this story about? President Donald Trump's tax and spending bill has triggered sweeping changes to federal student loans, affecting both current borrowers and future students.The United States has nearly 43 million people who owe a combined $1.7 trillion in student loan debt. New rules now in effect could change h...
When was this published? This article was first published on July 1, 2026 by WXYZ Channel 7 (ABC Detroit) - News and curated for The Detroit readers.
Who reported this story? This story was reported by Kadia Tubman at WXYZ Channel 7 (ABC Detroit) - News. To learn more about how The Detroit selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more schools coverage from The Detroit, or browse our daily briefing and topic hubs .
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