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What student-loan borrowers should know about Trump's plans to dismantle the Education Department


Published on 2025-03-24 12:21:00 - Insider
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  • Trump said student loans will be transferred to the Small Business Administration as part of his plan to eliminate the Department of Education.

The article from MSN discusses former President Donald Trump's plans to significantly reform the U.S. Department of Education, which could have substantial implications for student loan borrowers. Trump has expressed intentions to dismantle the Department of Education, suggesting that education should be managed at the state and local levels rather than by the federal government. This could potentially lead to changes in how student loans are administered, including the possibility of reducing or eliminating federal student loan programs. Key points include Trump's criticism of the current student loan system, his proposal to cut federal funding for education, and the potential impact on existing loan forgiveness programs like Public Service Loan Forgiveness (PSLF) and income-driven repayment plans. Borrowers are advised to stay informed about these policy changes, as they could affect loan repayment terms, forgiveness options, and the overall structure of federal student aid.

Read the Full Insider Article at:
[ https://www.msn.com/en-us/money/personalfinance/what-student-loan-borrowers-should-know-about-trump-s-plans-to-dismantle-the-education-department/ar-AA1ByJlq ]