Released: November 19, 2024

What the election could mean for student loan borrowers

Source: Danielle Douglas-Gabriel, Washington Post (Paid Registration)

The past four years have been filled with highs and lows for federal student loan borrowers, as nearly 5 million have benefited from $175 billion in debt cancellation provided by President Joe Biden and others have watched their prospects for relief ensnared by litigation. The next four years could be just as tumultuous with Republicans controlling both chambers of Congress and the White House.

Millions of borrowers in low-cost repayment plans could see their monthly student loan bill go up, while programs that canceled the student debt of public service workers such as teachers may be on the chopping block. And some loan programs that parents use to fund their children’s education could be in jeopardy, too, experts say.

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