Student Loan Borrowing Limit Changes from the One Big Beautiful Bill Act

piggy bank with student loan borrowing limit

  The One Big Beautiful Bill Act has overhauled ways students and parents borrow for college. Here is a summary of the many student loan borrowing limit changes. New student loan borrowing limits for federal loans go into effect July 1, 2026. Note that the student loan changes below only apply to federal loans from…

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One Big Beautiful Bill Act expands 529 Plans

extremely happy man

  The One Big Beautiful Bill Act expanded the uses of 529 Plans. This continues the policy trend of making them easier and more attractive to use. 529 Plans are investment accounts funded by after-tax dollars where the earnings grow tax-free and withdrawals for qualified education expenses are also tax-free. Withdrawals for non-qualified expenses are…

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The 5 Myths of College Costs

  How many purchases in life would you spend hours or even days on without knowing the cost? Imagine looking at homes or vehicles and obsessing over their details to find the right one, only to then be told the seller would get back to you on the price that they were customizing only to…

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Navigating Student Loan Changes

WCCO talking points

  College Inside Track’s Chris Wills was featured on WCCO Talking Points with Esme Murphy discussing the changing rules with student loans     0:00 Navigating changing rules for student loans 1:06 Collecting on defaulted student loan payments 2:24 What is a federal direct student loan? 3:10 Cautioning against parent-plus loans 4:03 Future of Biden’s…

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Federal Student Loan Collections Resume

college graduate

  For the first time since March 2020, the Department of Education will be collecting on defaulted student loans beginning on May 5, 2025.   The office of Federal Student Aid (FSA) will encourage borrowers to begin making monthly payments, enroll in an income-driven repayment plan, or pursue loan rehabilitation. The FSA is also restarting…

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Guidelines for student loan repayment

By Cozy Wittman,   As the price of college continues to climb, for many, loans will need to be part of the larger strategy to pay for school. How to pay those back should be an important part of the discussion when the student takes out the loans.  Guidelines for debt payback can help a…

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FAFSA change for small business owners

small business owner

  Add small business owners to the group of people impacted by the recent FAFSA changes. Previously, the value of any privately held business, including assets, with less than 100 employees did not need to be reported on the FAFSA as part of its small business exclusion. However, that exclusion has gone away as part…

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Tips on the 6 trickiest FAFSA questions

student completing FAFSA on computer

The FAFSA is a quintessential government form, meaning it isn’t always as easy to understand as it should be. Far too many families make mistakes that are unnecessarily costing them money. Check out the following tips on how to tackle the 6 trickiest questions:   Schooling of parents The answer should be the last level…

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Student Aid Index eligibility guide for 2025-26

teacher explaining student aid index to students

  The new FAFSA for the 2025-26 school year is scheduled to open on Dec. 1, 2024, (delayed from Oct. 1), and the Department of Education has provided this guide on the formula. The guide both explains the formula for the Student Aid Index (SAI), as well as eligibility for Pell Grants. The SAI number…

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2025-26 FAFSA delayed

FAFSA delayed

  Another year, another FAFSA delay. The FAFSA form for students entering college in Fall 2025 would normally open on Oct. 1, but will instead be rolled out in phases and be fully available by December 1. The FAFSA will only be initially be available for testing with a limited number of students and institutions.…

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