On January 29, 2026, the U.S. Department of Education published a notice of proposed rulemaking (NPRM) to amend regulations for federal student loan programs based on the recent enactment of HR 1 (P.L. 1119-21), sometimes referred to as the “One Big Beautiful Bill Act” (the “Reconciliation Act”). The Department established two negotiated rulemaking committees for the implementation of the Reconciliation Act. The first committee, the Reimagining and Improving Student Education (RISE) Committee, reached consensus on November 6, 2025, on the entire package of loan-related changes, including federal student-loan limits, repayment plans and the elimination of the Graduate/Professional PLUS Loan program.
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