About 8 million federal student loan borrowers had hopes of smaller monthly payments and lower lifetime costs when the Biden administration rolled out the Saving on a Valuable Education (SAVE) repayment plan in 2023. But early in 2024, the plan was met with legal challenges and put on hold.

The Trump administration appears poised to take significant actions that could undermine the Department of Education. Here's what student loan borrowers should do.

Although President Trump has only been in office for a matter of weeks, he’s already trying to make big changes. And one of those changes is to upend the Department of Education by either closing parts of it or eliminating it for good.