As President Biden’s administration concludes, approximately 40 million federal student loan borrowers may face significant changes, particularly with President-elect Donald Trump’s critical stance on student loan forgiveness. The future of Biden’s Saving on a Valuable Education (SAVE) plan is uncertain, prompting experts to advise borrowers to explore remaining relief options. The Public Service Loan Forgiveness (PSLF) is expected to remain intact. With the SAVE plan tied up in legal issues, the Department of Education offers alternative income-driven repayment plans until July 2027. Borrowers should keep records and stay informed about their loan status as the transition occurs.
