PALM BEACH, FLORIDA - JANUARY 07: U.S. President-elect Donald Trump speaks to members of the media ... [ ] during a press conference at the Mar-a-Lago Club on January 07, 2025 in Palm Beach, Florida. Trump will be sworn in as the 47th president of the United States on January 20. (Photo by Scott Olson/Getty Images)

As President Joe Biden leaves behind a mixed student loan forgiveness legacy, President-elect Donald Trump is set to return to the White House in less than two weeks. And he’ll be inheriting a federal student loan system experiencing historic levels of turmoil.

Biden has had some significant success in dramatically improving the Public Service Loan Forgiveness and Total and Permanent Disability Discharge programs, while allowing more borrowers to receive loan forgiveness under income-driven repayment, or IDR, than ever before. However, Biden was ultimately forced to withdraw several student loan forgiveness initiatives. And the SAVE plan — a central feature of his student debt relief agenda — is on life support due to a legal challenge. Meanwhile, millions of borrowers are stuck in a forced forbearance, while others remain in default and are about to experience the draconian collections powers of the federal government.

Despite the uncertain environment, it’s not too late for borrowers to take some steps to avoid worst-case scenarios when it comes to their student debt. Here’s what you can do, starting this month.

Not all student loan forgiveness programs are ending. Public Service Loan Forgiveness, TPD Discharges, and loan forgiveness under the Income-Based Repayment plan all remain available right now. But borrowers should move forward with the assumption that mass student debt cancellation — initiatives that would immediately wipe out the debt for millions of people all at once — is not happening.

The Biden administration has now officially scrapped plans to provide loan forgiveness to borrowers who have experienced runaway interest, those who first entered repayment more than 20 or 25 years ago, borrowers who attended so-called low-value institutions, and people who are experiencing personal and financial hardships. Trump is unlikely to revive these initiatives once he returns to the White House later in January. And the SAVE plan

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