While canceled or reduced loans are generally tax-free at the federal level, you may face hefty tax bills in 19 states.

An estimated four million student loan borrowers were more than 90 days overdue on repayment by the end of February 2025, double the amount that were in delinquency at the same time six years ago.

Key student loan and aid programs may be eliminated or restructured if Trump follows through with cutting the Department of Education.

The president signed an order that would deny loan forgiveness to workers for groups engaged in “substantial illegal activities,” which it indicated included things like diversity initiatives.

President Trump seeks to dismantle the Department of Education. Here's how it would affect existing student loans in Ohio.

Trump is expected to sign an executive order calling on Education Secretary Linda McMahon to abolish the agency.