The Big Beautiful Bill is set to upend student lending starting July 1, 2026, with changes to everything from loan amount caps to repayment options to program availability.

In this episode, John Volpini, VP of Relationship Management at Sallie Mae, draws on his decades of industry experience to explain how these changes will affect the private student lending market — and how credit unions can seize the opportunity.

Key Takeaways

01:35: DOGE cuts eliminated around half of FSA's staff, leaving schools stressed and under-guided as they race to implement major loan reforms by July 1st.

05:14: Grad PLUS eliminated, Parent PLUS capped at $20K/year, and graduate loans now have hard lifetime limits — John ranks this second only to the 2010 federal takeover in significance.

08:50: Federal PLUS loans carry a 4.266% origination fee that inflates the true APR, meaning top-tier credit borrowers will frequently find private loans equal to or cheaper — something most families don't know.

15:26: The Bill cuts $8–10B in annual federal loan volume, with approximately $1.2B shifting to private lending in 2026 and growing to $5.2B over three years — capacity the market can handle.

18:01: Unlike undergrad loans (90% co-signed), John expects 60–70% of graduate private loans to be unsupported, improving approval rates as better-credit grad students enter the private market for the first time.

21:05: For the first time, Pell Grants will cover workforce and trade programs — a move John sees as positive, reinforcing his longstanding advice: free money first, federal second, private gap financing third.

Resources Mentioned:

https://www.elmresources.com/

While lawmakers debate a proposed 10% credit card interest rate cap, credit unions are asking what this could mean for access to credit, profitability and member relationships.

In this episode, credit card expert David Shipper of Datos Insights takes a deep dive into the potential impact of legislative rate caps, what could happen to credit card programs, and what credit union leaders should be doing now.

Key Takeaways

02:11: David explains that the bill is extremely blunt: a flat 10% APR cap on all credit card interest, with no distinctions for cash advances, default rates, or risk tiers.

04:50: David outlines how a cap would reduce approvals, shrink credit lines, and push consumers toward worse alternatives like payday loans or BNPL.

09:38: David agrees that credit union leaders are right to be concerned: many programs could become unprofitable, leading to fewer approvals and higher fees.

11:46: Despite the risks, David argues credit unions could gain market share because their rates already average around 12–13%.

16:21: David warns that state-by-state caps would create a patchwork of rules, disadvantaging local credit unions while national banks export higher rates.

20:31: David outlines practical steps that credit unions can do now: speed up digital applications, enable instant approvals, offer digital card issuance, and reevaluate fees to ensure sustainability.

Resources Mentioned:

https://datos-insights.com/

https://www.americascreditunions.org/

While many credit unions look to expand their field of membership or enter new markets, Merck Employees' FCU is bucking the trend—and reaping the rewards.

In this episode the $1.8 billion credit union's president and CEO, Paul Gentile, discusses the unique relationship the credit union maintains with one of the world's largest pharmaceutical companies, and how doubling-down on Merck employees continues to deliver long-term growth.

Key Takeaways

00.48: Paul's career journey from publisher of the Credit Union Times, to leading a League, and finally running a credit union.

03.06: Why fraud is the number one issue facing credit unions in 2026.

06.29: How Merck has maintained strong relationships with its SEG and continues to grow and thrive within its closed field of membership.

10.00: Ways Paul and the Merck leadership team have positioned student lending as a market differentiator.

14.21: An overview of Merck's growth strategy, and how it's maintaining relevance with a SEG membership.

20.21: Paul shares his vision for credit unions in the next decade, particularly as it relates to Stablecoin and broader crypto technology.

Resources Mentioned:

www.merckcu.com

www.cutimes.com