What’s at stake for student loan borrowers during the next Trump administration

With much of President Joe Biden’s student loan agenda tied up in court, the incoming Trump administration could have a significant impact on millions of borrowers.

With much of President Joe Biden’s student loan agenda tied up in court, the incoming Trump administration could have a significant impact on millions of borrowers. President-elect Donald Trump hasn’t made specific promises on student loans or other forms of college financial aid, but delivering student loan forgiveness isn’t a policy priority like it has been for Biden. Republicans have repeatedly challenged Biden’s efforts, and when his sweeping student loan forgiveness program was struck down by the Supreme Court last year, Trump said the proposal “would have been very unfair to the millions and millions of people who have paid their debt through hard work and diligence.” During his first term, Trump proposed ending a program that delivers student loan forgiveness to public sector workers after 10 years, and his administration tried to limit debt relief for borrowers who were misled by their colleges. Both efforts were unsuccessful, but the latter left many people waiting for years to find out if their debt-relief claim would be granted. It’s possible for the Trump administration to unilaterally make some changes to the federal student loan system through a rulemaking process, but other actions – like abolishing the Department of Education, as Trump has promised to do – would require Congress to act. Here’s what student loan borrowers need to know about what’s at stake and what Trump could do: