Beginning as early as July 2026, several provisions in President Donald Trump’s domestic spending and policy bill will change the way students and families pay for higher education.
The so-called ‘big beautiful’ bill brings new borrowing limits and reduces the number of repayment plan options for federal student loan borrowers taking out loans on and after July 1, 2026. It also eliminates Grad PLUS loans for students seeking advanced degrees after that date.
While not all students take out federal loans to pay for their education, 61% of college students say they will be impacted by the bill, according to a new survey conducted by U.S. News & World Report. The news outlet surveyed nearly 1,200 college students to gauge their understanding and expected impact of the policy changes.
“Honestly, I’m cooked,” one student wrote in the survey. “I wanted to go to medical school but now I won’t,” another said.
The student ditching their med school plan isn’t alone — over a third of respondents said they’re canceling plans to further their education in response to the policy changes, U.S. News found. Others students said they are considering workarounds like going to school abroad or joining the military to help fund their education.
