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What Next | What Happens To My Student Loans Now?
Mar 26, 2025
Danielle Douglas-Gabriel, a higher education reporter at The Washington Post, dives into the chaos surrounding student loans amid changes in the Department of Education. She discusses the fallout from Trump's executive order aimed at dismantling the department, leaving over 40 million borrowers in limbo. The conversation highlights the challenges of repayment options, particularly the problematic SAVE plan, and explores the emotional toll on frustrated borrowers. Danielle underscores the urgent need for systemic reform to enhance educational access and support for future students.
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Quick takeaways
- The dismantling of the Department of Education threatens over 40 million borrowers' access to essential student loan repayment options and services.
- Proposed policy shifts may disproportionately impact low-income students and alter the educational finance landscape, complicating future borrowing strategies.
Deep dives
Impact of Executive Orders on the Department of Education
The executive order announced by President Trump aims to dismantle the Department of Education, which plays a crucial role in managing federal financial aid for students. This agency operates much like a bank, serving over 40 million Americans and handling a massive student loan portfolio. However, the department has faced significant downsizing, experiencing a dramatic reduction in staffing due to various federal policies. As a result, critical systems like the FAFSA website have encountered operational issues, leaving potential borrowers anxious about their access to student loans.
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