With Donald Trump winning the election, what does the President Elect plan to do about the student loan crisis?  

The $1.3 trillion elephant in the room isn’t going away. Now with the presidential election, over 40 million sets of lives are on Donald Trump. The student loan debt amount grows by the second and there is no clear solution for borrowers in sight. Hillary Clinton had a clear plan she had laid out, “We had a very clear idea of her priorities on higher education, on college affordability, on student debt,” said Mark Huelsman, a senior policy analyst at Demos, a left-leaning think tank. “We do not know what a Trump administration would do in terms of existing higher education regulation.”

Trump, however, did supply a trail of breadcrumbs to ideas he may move to implement during his presidency. The Republican nominee said that he would work with Congress to give tax breaks and subsidies to schools that make the effort to cut costs of tuition. Citing that schools spend too much on administration and fund managers.

In October, Trump said that he would cap federal student loan payments at 12.5% of borrowers’ income for a maximum for 15 years. While no plan is in place this proposal in a lot of cases is better for borrowers than the system that is currently in place. Even with income-driven repayment plans, the cap can be between ten and fifteen percent for 20-25 years. This is unless you work for a public service then your term is over after 10 years if you remain in public service.

Income-driven repayment plans now are tricky and complex. Robert Kelchen, a professor at Seton Hall University, says that simplifying IDR plans has bipartisan support and has a legitimate chance of coming to fruition. Simplifying the repayment system for federal student loans is something Senator Clinton also proposed. Jason Delisle, a resident fellow at the American Enterprise Institute, a right-leaning think tank, is curious to see how Trump will actually tackle this issue. He said there isn’t a “Republican playbook on higher education that they can draw from.” Delisle also stated he’d like to see an adoption of Jeb Bush’s proposal while on the campaign trail. In which, families would get a $50,000 credit they could use to pay for college. For every $10,000 a student uses, that student would pay back 1% of their income through the tax system for 25 years.

Trump has ideas, but not quite a plan yet. Students and graduations will have their eyes peeled and ears open for a life changing fix. There are 40 million Americans holding $1.3 trillion in debt and they are desperate for change – as better loan forgiveness could change their lives and shape their future. In the meantime, they are forced to work within the current system that doesn’t play well with borrowers. Student Loan Assistance Companies like Ameritech Financial are experts in student loan repayment and forgiveness. There are too many reports about applications being denied or too complex, that they exist to help those who need it.