Throughout the election campaigns, Donald Trump’s statement left students with little knowledge or
idea about what their future is going to be like under a new U.S. President. Many sites have reported
that Donald Trump is causing worry for international students, who may be faced with less
postgraduate job opportunities in the U.S. if Trump upholds a promise made during his campaign to
limit or end the H-1B Visa program intended for highly-skilled foreign workers. However, for U.S.
student loan holders, Trump’s presidency could take some of the pressure off. We’ve looked at some
of the main ways in which the new President could change things for students:
Student Loan Repayments
If you studied for your tax degree online with a student loan, then chances are that you’re still
paying it off, even if it’s been a while since you graduated. Although new repayment options and the
possibility of forgiveness from the debt after 20-25 years were available for graduates under the
Obama Administration, Trump told a conference in Ohio in October that he does not believe that
students should be made to repay any more than they can afford and he intends to cap student debt
repayments at just over twelve percent of total income. He also said that students should not have
the loan ‘hanging around their neck’ for life, suggesting that debt forgiveness should be offered after
just fifteen years.
However, for international students, moving to the U.S. for work and study may no longer be on the
cards if President Trump upholds his promises regarding the H-1B visa. Although it unclear about
how this would affect international students that currently study in the U.S. or international
students enrolled on online college programs, it would certainly make it more difficult for non-U.S.
citizens to be accepted into college programs or find a job afterwards.
Private Student Loans
Currently, student loans in the U.S. are mainly dealt with by the federal government and managed
by loan servicers such as Navient, the nation’s largest student loans company, which has just been
sued for ‘failing borrowers at every stage of repayment’. Students under Trump’s presidency are
expected to have to rely on private sector lenders and loan servicing companies such as Navient
more when borrowing and repaying their student loans.
Lower Tuition Fees
This suggestion may come as a breath of fresh air for anybody who’s considering enrolling on a
taxation degree, for example, but is worried about facing the huge costs of paying back loans or
finding money to pay for rising tuition fees. In his speech in October in Ohio, Trump stated that he
would push for colleges to make cutbacks on tuition and reduce federal regulations at colleges so
that they could pass on the savings made on compliance to their students. Whether or not this idea
will work out is yet to be seen.
If you’re a student, Donald Trump’s presidency could affect you in a number of ways. Both home and
international students may see some changes as the new president steps in.