The Brief

The Trump administration has agreed to a plan to cancel student loan debt for eligible borrowers under certain income-driven repayment programs.

Last week, the American Federation of Teachers and the Department of Education reached a legal agreement on Oct. 17.

FOX Business obtained a statement from the American Federation of Teachers with the organization saying that the deal awaiting court approval requires the Education Department to follow through on debt forgiveness for eligible borrowers in 2025 and guarantee they won’t face a surprise tax hit.

What can borrowers expect with the student loan forgiveness changes?

Why you should care:

Under the legal agreement, the Trump administration must cancel student debt for all eligible borrowers enrolled in income-driven

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