U.S. Department of Education

Rule Changes

Designed and implemented SAVE under Biden, then agreed under Trump to dismantle it via settlement.

Biden sold the SAVE plan as a fix for millions facing a broken student loan system: smaller payments, faster forgiveness, and protection from ballooning interest.

Updated 6 days ago

Rule Changes

Being systematically dismantled through interagency transfers

The federal government has managed student loans from the same place for decades: the Education Department's Federal Student Aid office. On March 19, the Treasury Department began absorbing that function — starting with $180 billion in defaulted loans held by 9.2 million borrowers, with plans to eventually take over the entire $1.7 trillion portfolio and the financial aid application that 17 million students complete each year.

Updated Mar 20