U.S. Department of Education
The number one question I’m hearing from clients and their parents in recent weeks is how they should prepare for the changes coming with the new federal administration. To me, the biggest proposed policy change affecting future college students is President Trump’s pledge to eliminate the U.S. Department of Education.
The Education Department spends most of its budget on education and training for college students, students enrolled in career and technical programs, and people with disabilities who need help finding jobs. In fiscal year 2024, the Education Department spent about $161 billion of its $268 billion budget to fund its office of Federal Student Aid, the country’s largest provider of student financial aid.
Here’s what I recommend:
Limit your reliance on federal grants and student loans to pay for college. Do not assume there will be income-based repayment plans. These could be significantly reduced or go away altogether.
Consider private colleges that are generous with merit-based aid. They have more academic freedom than public universities, and their merit-based aid isn’t subject to federal oversight.
Avoid public universities in states that do not have strong state-level support for higher education.
Follow me and stay in touch! I will monitor the situation closely and keep people apprised of changes.
I don’t know what will happen in the future and what changes will be blocked or held up in court, so I suggest playing it safe. Reach out if you want help!
