Student loan borrowers confused by suspension of some repayment plans. Here’s what to know.

The recent changes to student loans under the Trump administration have left many borrowers feeling frustrated and confused. Following a court ruling in February that blocked some Biden-era programs, the Education Department has removed online and paper applications for income-driven repayment plans. This has particularly impacted those who have lost their jobs, including federal workers, who would have previously been able to benefit from a zero-dollar income-driven repayment plan.

The removal of application materials has also raised concerns about the recertification process for borrowers already enrolled in repayment plans. Income-driven repayment plans take into account a borrower’s finances and family size when calculating monthly payments, but borrowers must regularly demonstrate that they still qualify. The recent layoffs at the Education Department have only added to the uncertainty, with the federal website for student loans and financial aid experiencing an hours-long outage.

In light of these challenges, it is important for borrowers to stay informed about their recertification deadlines and explore alternative options if the necessary forms are not available online. Borrowers should also consider reaching out to state-specific and state-level resources for assistance. Additionally, contacting representatives in Congress can be helpful in navigating the complexities of federal student loan servicers and finding affordable repayment options.

Despite the changes implemented by the Trump administration, loan servicers are still required to consider a borrower’s financial situation. Borrowers may be eligible for temporary forbearance or deferment of payments in cases of financial hardship. State attorneys general can also provide guidance and support to student borrowers facing difficulties.

Individuals like Jessica Fugate and Debbie Breen, who were nearing student loan forgiveness under the Public Service Loan Forgiveness program, have found themselves facing uncertainty and stress due to the changes in repayment options. As they navigate the challenges posed by the current situation, it is essential for borrowers to stay informed, seek assistance from available resources, and advocate for their rights as borrowers.

The ongoing impact of the Trump administration’s changes to student loans underscores the importance of staying informed and proactive in managing student loan debt. By staying engaged and seeking support from relevant resources, borrowers can navigate these challenges and work towards achieving financial stability and loan forgiveness.