Sweeping changes to federal student loans take effect

Significant changes to federal student loan policies are taking effect this Wednesday. These impactful updates are part of Trump's One Big Beautiful Bill. CBS News business analyst Jill Schlesinger appeared on The Takeout to explain the specific details that borrowers need to understand regarding these sweeping federal student loan modifications. The implementation of these measures marks a major shift in how student loans are managed under the new legislative framework established by the aforementioned bill.