"Biden Administration Shifts Gears on Student Loans: A Major Overhaul in the Making In a significant move, the Trump administration has unveiled a comprehensive plan to take control of the federal student loan program, a major overhaul that could have far-reaching implications for millions of borrowers. The three-phase transition, set to be implemented in the coming months, will see the administration assume management of the Free Application for Federal Student Aid (FAFSA) and ultimately oversee most federal student loans. The move marks a significant departure from the current system, where private companies have played a major role in servicing these loans. As the administration takes the reins, borrowers can expect changes to the way their loans are managed, including potential reforms to repayment terms and interest rates."
The Trump administration announced a three-phase transition that will eventually include management of most federal student loans as well as the Free Application for Federal Student Aid (FAFSA).
