Explore the latest developments concerning Trump’s ‘big, beautiful.
Trump’s ‘big, beautiful bill’ is bringing a big set of student loan changes
One year after President Donald Trump signed his core domestic policy package into law, student loan borrowers are bracing for a major overhaul of the federal lending system that will begin this week.
Many were already struggling when the Biden administration attempted to enact sweeping student debt relief in the wake of the Covid pandemic, but the proposal encountered Republican blowback. Now, under the Trump administration’s changes, borrowers will experience a range of effects with some seeing little difference in what they owe each month while many lower-income borrowers will be hit the hardest with increases, student advocacy groups and financial planners say.
Student Loans Must Be Forgiven And Cannot Be Kicked Off SAVE Plan, Says Amended Lawsuit
Student loan borrowers have filed an amended lawsuit against the Education Department. They contend that qualifying SAVE plan borrowers should receive loan forgiveness or be transferred to the REPAYE plan, rather than being forced into other repayment options. This challenge arises as the department prepares to move millions of borrowers out of the SAVE plan starting in July, following a settlement that terminated both SAVE and its predecessor, REPAYE. The Education Department seeks to dismiss the lawsuit, arguing the termination is final and current law no longer authorizes these plans. Despite the legal battle, borrowers are advised to prepare for selecting new repayment plans, as the department's timeline for transitioning out of SAVE remains unchanged.
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