Suze Orman's Women & Money (And Everyone Smart Enough To Listen) Suze School: How “Big Beautiful Bill” Affects Your Taxes and Paying for College
Aug 3, 2025
Discover how the recent "Big Beautiful Bill" impacts your income taxes and what it means for federal student loans. Explore the upcoming changes to college loan regulations and why early financial planning is crucial for families. Learn about maximizing your money through financial literacy, emphasizing informed choices and saving strategies. Plus, uncover the significant role of community support in navigating your financial journey.
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Temporary SALT Deduction Increase
- The Big Beautiful Bill temporarily raises SALT deduction from $10,000 to $40,000 per household for incomes under limits.
- High-income earners face a phased reduction, but no SALT deduction falls below $10,000 until 2030.
Plan Income to Maximize SALT
- Consult a tax professional to plan income so you can maximize the SALT deduction under new limits.
- Consider modifying Roth conversions and retirement withdrawals during these years to reduce taxable income.
Major Federal Student Loan Changes
- Starting July 1, 2026, Parent PLUS loans will be capped annually and in lifetime amounts, limiting parental borrowing sharply.
- All undergraduate loans become unsubsidized, so interest accrues and compounds during school increasing repayment burdens.