President-elect Donald Trump has not said what he would do on student loan forgiveness, leaving millions of borrowers facing uncertainty over what will happen with their payments once President Joe Biden leaves office.
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Savannah Britt owes about $27,000 on loans she took out to attend college at Rutgers University, a debt she was hoping to see reduced by President Joe Biden’s Biden promised the student loan cancellation program during his run for the presidency. From its launch, Biden's loan forgiveness faced relentless pushback from opponents who said it heaped advantage on elites and came at the expense of those who repaid their loans or did not attend college.has been halted by a federal judge after Republican-led states sued.
Even without directly addressing student loans, Trump has made promises that would affect them. He has pledged to eliminate the U.S. Department of Education, which manages the $1.6 trillion federal student loan portfolio. It's unclear which entity would take that responsibility if the department were eliminated, which would require approval from Congress., even though the signature forgiveness effort has been blocked.
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