Key facts
- New rules linking federal student loan access to graduate earnings are being finalized.
- Schools failing to meet graduate earnings thresholds may lose federal funding.
- A federal judge blocked part of a Trump administration rule on graduate student loan limits.
- Nursing and other fields retain professional status for federal student loan purposes.
- Theology programs have been dropped from the professional designation for student loans.
- Trump administration student loan changes become effective July 1.
- Borrowers in the SAVE plan have 90 days to switch plans after notification.
- The "Trump Accounts" investment program for children launches July 4.
- The Nasdaq and NYSE will ring the opening bell from the Oval Office for the program launch.
- The "Trump Accounts" program will provide $1,000 in seed money for eligible children.
- Keith Sonderling is nominated to be Secretary of Labor.
- Keith Sonderling is currently the acting labor secretary.
The Trump administration is enacting sweeping changes to federal student loan policies, with new rules set to take effect on July 1 that link federal student loan access for graduate programs to the earning potential of their graduates. Schools whose programs do not meet specific earnings thresholds may lose eligibility for federal funding. However, a federal judge has intervened, blocking a portion of these new regulations. This judicial action specifically prevents limitations on federal student loan amounts for graduate students, while allowing nursing and other fields to maintain their professional designation for loan eligibility. Theology programs have been excluded from this professional designation. These changes impact repayment plans and borrowing caps for student loans. Borrowers participating in the SAVE plan have a 90-day window after receiving notification from the Education Department to opt into a new plan before being automatically enrolled in the standard, more costly option. In parallel, a new investment program for children, "Trump Accounts," is slated to launch on July 4. The Nasdaq and NYSE will jointly mark this launch by ringing the opening bell from the Oval Office. This initiative will provide $1,000 in seed money to eligible children. Furthermore, President Donald Trump has announced his intention to nominate Keith Sonderling, the current acting labor secretary, to permanently lead the Department of Labor, pending Senate confirmation.