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One Big Beautiful Bill Act rollout starts; new student loan rules take effect July 1
Starting July 1, federal stundent loan borrowers will have to face sweeping new rules as US President Donald Trump’s One Big Beautiful Bill Act (OBBBA) begins its rollout. According to a report by CNBC, financial planners warn that the legislation could sharply limit repyamnet and forgiveness pathways for those looking to take new loans, amking borrowing decisions far more consequential. “Be very careful when it comes to taking out new student loans,” said Landon Warmund, a certified...
Trump's 'big beautiful bill' turned 529 plans into 'lifelong education' accounts, expert says: How to take advantage
New rules are expanding how tax-advantaged 529 savings plans can be used to pay for expenses beyond college, unlocking money that workers can use to advance or change careers. Under provisions in President Donald Trump's One Big Beautiful Bill Act, signed into law in July 2025, you can use a 529 plan to save not only for your child's education but also for your own career training or professional credentials. "You can now use them really as lifelong education savings accounts," said Vivian...
Student loan borrowing is 'high stakes' as new rules take effect on July 1, CFP says. What to know
Student loan borrowers who take certain steps will soon face fewer repayment and debt forgiveness pathways, due to President Donald Trump's One Big Beautiful Bill Act. "Be very careful when it comes to taking out new student loans," said Landon Warmund, a certified financial planner and certified student loan professional at Reliant Financial Services in Kansas City, Missouri. That's because those who borrow federal student loans after July 1 will go from a "legacy borrower" to a "new...
Inside Wealth: Trump's 'big beautiful bill' has a 'double taxation' trap for top earners, tax lawyers say
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The "one big beautiful bill" came with many tax benefits for top earners, despite limiting how much they can deduct.
At least 3.5 million people have lost food stamp access as Trump's 'big beautiful bill' cuts take effect, analysis finds
Consumers are facing price pressures as the costs of groceries and gas rise. The pace of inflation is expected to increase in the coming months, according to the Survey of Professional Forecasters, a quarterly macroeconomic survey from the Federal Reserve Bank of Philadelphia. Meanwhile, there has been a "remarkable increase in food insecurity," the Federal Reserve Bank of New York said in a recent blog post, as people cope with higher costs and the loss of federal aid.