Reimagining and Improving Student Education (RISE) Committee

The Secretary proposes to amend the regulations for the Federal student loan programs authorized under the Higher Education Act to implement changes made by the One Big Beautiful Bill Act signed into law by President Trump on July 4, 2025. These proposed regulations would amend annual and aggregate loan limits for graduate, professional, and parent loan borrowers, simplify the existing myriad of repayment plans into two plans for new borrowers, sunset Income-Contingent Repayment plans, provide defaulted borrowers a second chance to rehabilitate their loans and resume repayment, and make conforming amendments for consolidation loans, deferments, forbearances.