Trump's presidency could reverse Biden's student loan forgiveness policies

Donald Trump is set to take office on January 20, 2025, and could reverse many of President Biden's student loan forgiveness policies. Biden's administration has provided over $183 billion in relief to more than 5 million borrowers. Trump's proposed spending reforms could cut Biden's student loan forgiveness by $200 to $330 billion. This change would significantly reduce the funds available for debt relief, impacting millions of borrowers. As Trump assumes the presidency, protections for student loan repayment may end, and the future of the Saving for a Valuable Education plan remains uncertain. The new Republican majority in Congress may also influence student loan policies.