Student Loans Under Trump: What the New Updates Mean for 2 Million Borrowers?
Nearly two million federal student loan borrowers who have been waiting for lower payment options or loan forgiveness are finally seeing some progress. After months of delays, new developments this month are expected to clear the backlog that has kept many borrowers in limbo.
Why It Matters?
Currently, over 40 million Americans hold federal student loans, with the total outstanding debt surpassing $1.6 trillion. These loan balances significantly impact borrowers' financial lives, influencing their ability to buy homes, manage credit, and plan for the future.
The Trump administration's restructuring of the Department of Education has coincided with ongoing political battles over student debt relief. Republican-led legal challenges continue to target initiatives introduced under fo...