As the 2024 presidential election approaches, both Democrats and Republicans are presenting contrasting stances on student loan policy, a topic of paramount importance to voters. The Democratic ticket under Harris and Walz aims to continue President Biden's initiatives on debt relief, while Trump and Vance propose a more conservative approach with potential cuts to federal education funding.
offer starkly different visions for student loan policy at a time when the topic is top of mind for voters.
If Trump and his vice president pick, Ohio senator JD Vance, win the White House, borrowers can expect a reigning in of relief and forgiveness programs. However, an incoming presidential administration still has power to sway the effort in their desired direction and to drive the appeals process, Dimino says.
Meanwhile, Trump is likely to support the dissolution of SAVE. “Certainly in a Trump administration, there would be every effort to enact regulations striking down SAVE, even if it were ruled constitutionally appropriate,” Meyer says. “This sort of regulatory whiplash happens with every presidential transition in nearly every area of policy where the parties disagree.
In June, the Education Department also began an effort to expand PSLF eligibility to early childhood educators who don’t necessarily work for nonprofits. Under a Harris presidency, borrowers can expect the government to continue prioritizing PSLF access, Dimino says. The Trump platform says it “will support the creation of additional, drastically more affordable alternatives to a traditional four-year College degree.” That could mean investing in trade schools, vocational programs, community colleges and other career pathways, Akers says.When she was California’s attorney general a decade ago, Harris prosecuted Corinthian Colleges, alleging that the for-profit institution intentionally misled students about job placement rates.
Student Loans Election 2024 Democrats Republicans Biden Trump
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