Some of the most generous benefits of federal student loans are going away in the coming years. Here's why experts still recommend them over private loans.

President Donald Trump's "One Big Beautiful Bill" is bringing changes to the federal student loan system that will affect millions of borrowers.

SoFi offers private student loans for undergraduate, graduate, law, MBA and parent borrowers. These loans are designed to help cover educational expenses not met by scholarships, grants or federal student aid. SoFi also offers student loan refinancing for those looking to consolidate and potentially lower their existing loan payments.

Under Trump's "One Big Beautiful Bill," as of July 1, 2026, new federal student loan borrowers will have just two repayment options: a standard repayment plan and an income-driven repayment plan called the Repayment Assistance Plan (RAP).

The minimum loan amount available to borrowers is $2,001, while in Massachusetts it's $6,001. The maximum is $200,000 for undergraduate students, and $400,000 for graduate students. Ascent offers a variety of repayment options based on your credit profile and whether you apply with or without a cosigner.

What if your employer could help pay down your student loans, without it coming out of your paycheck or being taxed? Employers have been able to help pay down student loans tax-free for some time, and the recent One Big Beautiful Bill Act has made this benefit permanent,

Providence Public School District's 'Educator of Color Loan Forgiveness Program' was deemed discriminatory for excluding White teachers from $25,000 student loan relief opportunity.

Student loan debt is taking a toll on employee’s 401(k)s, particularly as the Department of Education begins wage garnishment of those in default of loans, but employers could step up efforts by offering matching contributions or personalized financial counseling services,