Show 81 - Trump and Student Loans: What you need to know in 2025 with Andrew Paulson
In this episode, I talk with Andrew Paulson about everything you need to know about changes to student loans in early 2025.
4/16/20251 min read
There are some huge changes coming out of the White House right now in the student loan world. Cuts to the Department of Education, challenges against the SAVE program, etc. But that doesn’t mean it is time to panic. Instead, get informed and prepare yourself to expertly navigate those changes. In this episode Andrew Paulson and I discuss everything you need to know about student loans in 2025.
Show Notes
Get advice on your student loan situation (affiliate link)
https://studentloanadvice.com/tms
My previous episode with Andrew
Recommended Books (Amazon Affiliate Links)
IT IS POSSIBLE!: How I Earned Two Debt-Free Degrees...and How You Can, Too by Jason Brown
Key Ideas
The future of the SAVE repayment plan is grim, don't count on it
Delays in income certification for IBR, ICR, and PAYE means you will keep paying a smaller amount (unless your income went down)
What the Department of Education shake-up means for you...not much except longer wait times.
PSLF is likely safe (for now). It would be political suicide to yank the rug out from under you, especially for those already in the program.
If refinancing is for you, now is a time to look into it. Make sure you think through it before you proceed though!
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
Student loans are generally a mid range, and sometimes even low interest rate over a relatively long period of time. Because of this, it might not be your highest priority debt. Remember that the goal of debt pay off is usually to crush the shortest term, highest interest, smallest balance debts first to be able to roll those debt payments into other debts and eventually pay them all off. Make sure to include your other debts in your calculation when deciding what to do with your student loans.