With Trump's win, student debt relief is in question. Here's what to know. [CBS News]
NerdWallet, Inc. (NRDS)
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Source: CBS News
But with President-elect Donald Trump returning to the White House in January, the future of those efforts is now in question. During the presidential debate with Vice President Kamala Harris, Trump described Mr. Biden's efforts to forgive student borrowers as "a total catastrophe." While he hasn't explicitly addressed his plans for student loans, he's called for eliminating the Department of Education, which manages the $1.6 trillion federal student loan portfolio. It's unclear which agency or group would manage those loans if the Education Department were to be eliminated, a step that would require approval from Congress. The Trump campaign didn't immediately respond to a request for comment about Trump's plans for student debt relief. There's a lot on the line for the 46 million Americans who hold $1.7 trillion in student loans, a financial burden that about half of borrowers say has impacted their life choices, delaying home purchases or starting their families, according to
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