For most voters, there’s a variety of issues that drive them to the polls. This year, some of the top reasons include abortion rights, the war in Gaza, and the economy.
For many voters, there’s another top concern: student loans. As the Biden-Harris administration has officially forgiven more than $175 billion in student loans, some borrowers are worried that a Trump presidency would result in the opposite scenario. Many worry that popular programs like Public Service Loan Forgiveness (PSLF) will disappear if President Trump is reelected.
That’s not all that’s at stake in this election. Are you curious how Donald Trump and Kamala Harris feel about other higher education issues? Keep reading.
Proposals Related to Student Loan Debt
Expanding Income-Driven Repayment Plans
One of the most significant changes President Biden has made for student loan borrowers is creating the Saving on a Valuable Education (SAVE) plan, which resulted in substantial cost savings for many borrowers. The SAVE Plan cut monthly payments and subsidized interest capitalization, two enormous benefits for borrowers who can’t afford regular payments or are working toward loan forgiveness.
However, the courts currently have blocked the SAVE plan, and its survival hinges on several factors, including who is elected president. Harris has supported the SAVE plan as Vice President, and her administration will likely keep pushing it through the courts.
On the other hand, while he hasn’t directly addressed the SAVE Plan, Trump is less likely to support keeping SAVE if elected president. In the past, he advocated for a single income-driven repayment plan requiring borrowers to pay 12.5% of their income on federal loans, with loan forgiveness after 15 years. However, this proposal was never implemented during his first term, and his current stance on student loan repayment plans remains uncertain.
President Biden campaigned hard on student loan forgiveness and has forgiven more student loan debt than any other president before. Harris appears to support expanding loan forgiveness options for borrowers with federal loans.
While President Trump has not currently outlined his position on PSLF, he was unsupportive of the program during his first term, including proposing its elimination in his 2021 budget plan. The conservative agenda, Project 2025, which Trump has distanced himself from, proposes eliminating PSLF entirely. However, experts suggest that if Trump were reelected, he might implement policies aligned with the agenda, potentially affecting millions of borrowers who rely on the program.
Borrowers with private student loans may be out of luck for both parties. If you have private student loans, you may be better off refinancing to a lower interest rate if possible.
Borrower Defense to Repayment
For borrowers who believe their college has defrauded them, getting their loans canceled under borrower defense to repayment is one of the only ways out.
And that’s a huge point of contention for both candidates. During Trump’s first term, he made it harder for borrowers to get their loans canceled under the borrower defense to repayment provision. Trump also has a bad record with Trump University, which resulted in millions of dollars worth of fines for defrauding students. His administration was notorious for rejecting almost all borrower defense to repayment requests.
On the other hand, as an attorney general in California, Kamala Harris sued for-profit colleges for misleading students.
Enhancing College Affordability and Accessibility
Tuition-free Community College
Kamala Harris has long supported free community college and free four-year schools for those below a certain income level. If she’s elected president, it stands to reason that she’ll continue advocating for universal free community college.
One new proposal from President Trump is creating a free online college for U.S. students, American Academy. He has not entirely laid out what degree programs or majors he plans to offer; funding for that program has yet to be determined.
Investments in Historically Black Colleges and Universities
It may be noteworthy that during his presidency, Trump provided significant financial support to HBCUs, authorizing millions of dollars in funding to strengthen these institutions.
As a graduate of Howard University, Harris has a solid connection to HBCUs, and her track record in supporting increased funding for these institutions may appeal to voters who prioritize their needs. The Biden-Harris administration has given more than $17 billion in total funding to HBCUs—more than at any other time in history.
Some experts also point out that Pell Grant amounts increased significantly under the Biden-Harris administration. The administration increased Pell Grant awards by $900, the largest increase in a decade. HBCU students are likelier to use Pell Grants than students from other schools.
Emphasis on Trade Schools and Apprenticeships
Unlike many other issues that have come up during this election, expanding support for trade and technical schools seems to have bipartisan support. Harris has said she wants to eliminate degree requirements for some federal jobs—something President Trump did while in office.
President Trump has advocated for more trade school options, a potential facet of his free online school. The Republican Party’s general platform also supports more affordable trade school options for students.
Department of Education Funding
One of the most significant differences between Trump and Harris is their support for the Department of Education. Eliminating the Department of Education is one of the major proposals from Project 2025, and Trump has said that he supports shutting it down.
However, Harris wants to keep supporting the Department of Education and adding more education-related programs and protections for students. There are even more drastic differences between the two candidates regarding K-12 education.
Title IX changes
Title IX is the federal rule that prevents gender discrimination on college campuses. And while many know it to be the reason for women’s sports success, it stands for so much more. For example, Title IX also protects LGBTQ+ and transgender students.
The Biden-Harris administration has offered more protection to those students, especially in reversing decisions made during Trump’s first term. President Trump said he would undo those decisions if elected.
Bottom Line
Many voters and borrowers overlook the fact that the president alone cannot enact policies. Regardless of who wins, key changes to student loan or education policies will need Congressional approval.
If the Senate and the presidency are split, it will be difficult for either party to enact their policies. This is another reason why it’s always important to vote for your senators and representatives, not just the president, and to vote in midterm elections.