Are you a student loan borrower? Here's how the "big, beautiful bill" could affect you.

After already experiencing whiplash in federal student loan policies since the pandemic, borrowers must again brace for change.

The "big, beautiful bill" that President Trump signed into law on July 4 overhauls the federal student loan system by reducing the number of repayment plan options down to two and capping the amount individuals can borrow for higher education. 

Here are changes to student loan repayments under the new budget law.