What Trump could mean for Oregon's student loan borrowers
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President-elect Trump could spell an end to any lingering hope of federal student debt relief for millions of borrowers, including those in Oregon.
Why it matters: Oregon has nearly 529,000 borrowers — which is a little more than 12% of the state's population, according to the most recent Federal Student Aid data.
- Oregon's overall student loan debt balance is $20 billion, or roughly $38,000 per borrower.
- 47% of borrowers are under 35, according to the Oregon State Treasury.
Catch up quick: Earlier this year, all seven of Oregon's public universities approved tuition hikes, making attending college in the state 26% more expensive than it was a decade ago.
The big picture: Trump has repeatedly bashed the Biden administration's student loan forgiveness plans, but he has not said how he will handle the mounting debt in his next White House term.
- The president-elect has also vowed to dismantle the Department of Education, the loan holder for most federal student loans.
- The Trump campaign did not immediately respond to Axios' request for information on the president-elect's plans for the department or student loan relief.
Flashback: After the conservative-majority U.S. Supreme Court blocked Biden's signature student loan forgiveness plan last year, his administration found ways to relieve some borrowers by circumventing the need for congressional or court approval.
- Since 2021, the president has used the Department of Education's existing authority to provide more than $168 billion in relief to more than 4.7 million borrowers.
Yes, but: The next Trump administration could roll back the efforts through similar regulatory changes.