Student loan policies may be overhauled under the upcoming administration of President-elect Donald Trump; Many existing programs are likely to be modified or eliminated.

The Biden administration’s Savings on Value Education (SAVE) repayment plan, which currently serves eight million borrowers, stands at a crossroads. The fate of the program remains uncertain as the 8th Circuit Court of Appeals weighs its legality, and there is no clear sign that the Trump administration will continue to defend the program.

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“The reason the (Biden) administration defended the rule so strongly was that it provided a much more affordable repayment plan,” Persis Yu, deputy executive director of the Student Borrower Protection Center, told CNBC Make It last week.

Trump’s previous term offers insights into potential policy directions.

His administration has proposed eliminating Public Service Loan Forgiveness and cutting funding for several higher education programs, according to CNBC. During this period, nearly 99% of PSLF applications were denied by 2019, leading teachers unions to take legal action against then-Secretary of Education Betsy DeVos.

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The administration’s approach to protecting debtors has also changed. Rules for institutions to display student achievement results have been relaxed, leading to an estimated $11 billion reduction in debt forgiveness for borrowers particularly affected by questionable academic programs at for-profit colleges.

Project 2025, a policy agenda developed by The Heritage Foundation, outlines more dramatic changes. During Trump walked away from the proposalsThe agenda calls for the elimination of PSLF and borrower defense programs. More importantly, he proposes disbanding the Department of Education and returning education financing to the dominance of private lenders.

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The move toward private loans is raising concerns among borrower advocates. “What kind of corporate interests will be protected against the interests of borrowers and students?” Yu told CNBC. Unlike federal loans, where rates are set by Congress, private student loans generally carry higher costs because lenders set interest rates independently.

The transition could leave millions of borrowers in limbo about their monthly payments. Biden’s alternative debt relief plan, targeting long-term borrowers and those from low-value academic programs, faces legal challenges that the Trump administration appears unlikely to defend against Republican-led lawsuits.

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The landscape marks a turning point from March 2020. Trump initiates pandemic-related payment pause. This policy continued throughout his term and provided widespread relief to federal loan borrowers.

His return to office signals a potentially different approach to managing student debt by emphasizing private sector solutions rather than federal programs.

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This article Will Trump’s Second Term Affect Student Loan Borrowers? Here are 3 Potential Changes originally appeared Benzinga.com

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