3 big new changes to federal student loans and what they mean for you

Federal student loan terms can change from one academic year to the next. For instance, every spring, the Treasury Department determines the fixed interest rate for federal student loans for the upcoming award year, which runs from July 1 to June 30. Borrowers know that if they take federal loans every year of college, each one will likely come with a different interest rate. But major overhauls to federal student loans—like the changes that went into effect as of July 1, 2026—tend to catch…