President Joe Biden’s administration has delivered a record-breaking $175 billion in student loan forgiveness, benefiting nearly 5 million borrowers.
President-elect Donald Trump has pledged to reverse Biden’s student loan forgiveness.
Beyond Trump, Congressional Republicans have proposed reforms to overhaul federal student loan programs. Key proposals include:
- Capping loans for graduate students, a fast-growing segment of borrowers.
- Encouraging private lenders to compete more effectively with federal loans.
- Holding colleges accountable by requiring them to bear the costs of student loans that go into default.
These policies reduce federal involvement in student lending while addressing the rising costs of higher education.
With Biden continuing to push for expanded forgiveness and Trump vowing to dismantle those policies, the future of federal student loan relief hangs in the balance. As Congress debates comprehensive reforms, borrowers face uncertainty about what lies ahead in the battle over America’s $1.7 trillion student debt crisis.
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