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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.
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What Happens to Student Loans If Department of Education Is Downsized or Eliminated?
Some students may be blocked from accessing student loans. Gareth Fuller/PA
Aaron Gifford
|Updated:
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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.

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Aaron Gifford
Aaron Gifford
Author
Aaron Gifford has written for several daily newspapers, magazines, and specialty publications and also served as a federal background investigator and Medicare fraud analyst. He graduated from the University at Buffalo and is based in Upstate New York.