What Happens to Student Loans If Department of Education Is Downsized or Eliminated?

The current outstanding federal student loan debt for 42.7 million borrowers is $1.69 trillion.

Some students may be blocked from accessing student loans. Gareth Fuller/PA

By this time next year, millions of borrowers could be expected to repay student loans under the original terms agreed upon.

President Joe Biden’s Saving on a Valuable Education (SAVE) program remains halted by two federal court decisions. SAVE had provided arrangements for income-contingent repayments and debt forgiveness.