Reimagining and Improving Student Education (RISE)
Federal Student Loan Program
The Department of Education's RISE final rule implements the student-loan provisions of the Working Families Tax Cuts Act (P.L. 119-21, the law the Department previously referred to as the One Big Beautiful Bill Act). It establishes new loan limits for graduate students, professional students, and parents, phases out the Grad PLUS Program, and consolidates the existing repayment plans while creating a new statutorily authorized income-driven repayment plan.
The rule was finalized on May 1, 2026, with the new borrowing caps taking effect for loans made on or after July 1, 2026. Borrowers already enrolled may, under an interim exception, continue borrowing under the prior limits for a limited period if they remain continuously enrolled.
RISE on Hold: What the Federal Court Stay Means for Colleges and Universities recording and presentation slides (7/8/26)
Federal Lending Changes Deep Dive recording and presentation slides (4/22/26)
Federal Register Final Rule
Department of Education FAQs
Department of Education Interim Guidance on RISE Professional Program Definition and Corresponding Loan Limits
Washington, DC Circuit Court Opinion on RISE Professional Program Definitions