Student loan forgiveness/ Trump election/ Biden debt relief/ student loans/ borrower uncertainty/ Project 2025/ Department of Education/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President-elect Donald Trump’s win casts doubt on student loan forgiveness efforts, leaving millions uncertain about their debt relief options. Under President Biden, several loan forgiveness initiatives were launched but stalled by lawsuits. With Trump and his party opposing widespread debt cancellation, borrowers worry about upcoming repayments as Biden’s term ends.
“Trump’s Victory and Student Loan Forgiveness Quick Looks”
- Forgiveness Uncertainty: Trump’s re-election leaves Biden’s student loan forgiveness efforts in limbo, impacting millions.
- Blocked Forgiveness Plans: Biden’s broad forgiveness plan was halted by court rulings and GOP-led lawsuits.
- Borrowers’ Concerns: Millions, like Savannah Britt, face resumed payments as early as January.
- Trump’s Approach: Trump has criticized loan forgiveness and hinted at dismantling the Department of Education.
- Current Forgiveness Programs: Biden managed to cancel debt for 5 million borrowers through existing relief programs.
Trump’s Win Sparks Uncertainty Over Biden’s Student Loan Forgiveness
Deep Look
President-elect Donald Trump’s victory brings renewed uncertainty to millions of Americans who had been holding out hope for student loan forgiveness under the Biden administration. After making debt cancellation a cornerstone of his campaign, President Biden faced legal and political obstacles that limited the reach of his student loan relief efforts, leaving many borrowers now facing resumed payments and an uncertain financial future.
For borrowers like Savannah Britt, who owes about $27,000 in federal student loans from her time at Rutgers University, Trump’s win signals a potential end to the relief they were hoping for. Britt’s loan payments, currently on hold while legal challenges to Biden’s forgiveness program are resolved, may soon restart with monthly bills as high as $250. “With this new administration, the dream is gone. It’s shot,” Britt said. She also shared that her mother, who took out a loan to support her college education, faces a similar burden with $18,000 in debt now at a standstill.
Throughout his campaign, Trump criticized Biden’s student loan forgiveness initiatives, calling the program a “total catastrophe” that unfairly benefited young voters and encouraged irresponsible borrowing. While Trump has not provided specific details on his plan for student debt, he and his Republican allies have consistently pushed back against widespread cancellation, leaving many borrowers wondering what will happen under the new administration.
The question of student debt relief played a role in the 2024 election, which saw Trump’s economic message resonate with voters concerned about inflation and financial security. However, for borrowers struggling to manage debt payments, the economic conversation extends to student loans. “That’s a big part of what is making life unaffordable,” said Persis Yu, managing counsel at the Student Borrower Protection Center. “For many, these expenses are a burden they can’t escape.”
Student loan cancellation has faced repeated obstacles, from legal rulings to partisan opposition. Biden’s initial plan to forgive up to $20,000 in student debt for millions of borrowers was struck down by the Supreme Court in 2023. A more limited forgiveness program was later halted by a federal judge following challenges from Republican-led states. Additional efforts to reduce monthly payments for struggling borrowers have also been stalled due to legal objections from GOP states, compounding borrower concerns.
Polling data has shown mixed public opinion on Biden’s approach to student loans. A spring survey from the University of Chicago Harris School of Public Policy and The Associated Press-NORC Center for Public Affairs Research revealed that only three in ten Americans approved of Biden’s handling of student debt, with four in ten expressing disapproval.
Trump’s potential policies could further affect federal student loan management. Project 2025, a conservative agenda proposed by Trump allies, suggests the federal government should exit the student loan sector entirely, eliminating various repayment plans. Trump has even advocated for dismantling the Department of Education, which oversees the $1.6 trillion federal student loan portfolio. While such a move would require Congressional support, it raises significant questions about the future structure of student loan oversight in the U.S.
Despite these challenges, Biden’s administration has managed to cancel loans for around 5 million borrowers by maximizing existing programs, such as the Public Service Loan Forgiveness (PSLF) program, which provides relief to public sector workers. The number of Americans who have benefited from PSLF has grown from 7,000 to over 1 million since Biden expanded the program’s eligibility.
Sabrina Calazans, 27, is among those waiting anxiously to see what happens next. She owes around $30,000 from her education at Arcadia University in Pennsylvania and, like Britt, could soon face a monthly payment of over $300. Calazans, who lives with her family and contributes to household expenses, worries about how the loan payments will impact her and other first-generation Americans in similar financial situations. In her role as managing director of the Student Debt Crisis Center, she advises borrowers to use tools like the Federal Student Aid website’s loan simulator and stay informed on forgiveness options.
“There’s a lot of confusion about student loans,” Calazans said. “And it’s not just young people. Parents are taking out more debt for their kids to go to school, and older folks are going back to school and taking on debt as well.”
The uncertainty around student loan forgiveness now leaves borrowers in limbo as Biden’s term ends and Trump’s administration prepares to take office. While some borrowers have found relief under Biden’s programs, the likelihood of additional forgiveness initiatives appears slim under Trump’s leadership, prompting many borrowers to brace for resumed payments.
As January approaches, borrowers across the nation will be closely watching the new administration for any signs of how Trump’s policies may impact their student debt. For those who had hoped for cancellation, the election’s outcome is a sobering reminder of the shifting political landscape surrounding student loan forgiveness and federal support.
