President Donald Trump has made it clear that he’s not a fan of most student loan forgiveness programs.
But could his administration force borrowers to repay student loans that have already been forgiven?
Trump also promised toget rid of the Department of Education, which manages federal student loan programs.
So what if you’re still banking on a student loan forgiveness program?
The short answer is no.
Both of these situations would be extremely rare.
Rubin said she’s only seen one borrower whose student loan forgiveness was revoked.
In that case, forgiveness was based on servicer errors.
Since the borrower hadn’t actually qualified, the loan was reinstated.
Is Trump killing the SAVE plan?
The plan provides lower monthly payments for most borrowers and offers loan forgiveness within 10 to 20 years.
Since July 2024, the loans of enrolled borrowers have been ininterest-free forbearance.
Is PSLF going away?
Trump proposed eliminating PSLF in previous budgets during his first term but was overruled by Congress.
But major changes to PSLF would require an act of Congress, according to Rubin.
Those rules have been tied up in court challenges for two years.
Which student loan forgiveness programs does Trump support?
Trump’s2024 campaign platformmade no mention of student loan forgiveness.
He’s also made it clear that he opposes mass loan forgiveness.
What should student loan borrowers do?
We don’t know what actions the new Trump administration will take regarding student loan forgiveness.
Though you’re not seeing your balance increase, you’re also not making progress toward forgiveness.
“You’re not being hurt financially,” Kantrowitz said.
“The main thing it’s costing you is time.”
“We still have to wait and see if that will hold up with the Trump administration.”
Doing so can provide evidence that you’ve met the requirements for forgiveness and offers protection against servicer errors.
