The Trump administration recently announced that it would begin a process to overhaul the country's $1.6 trillion student loan system. Here's what to know.

Trump announced plans to transfer the federal student loans from the Education Department to the SBA. Here’s what could change for borrowers—and what would stay the same

This move to gather feedback may be in response to President Donald Trump's March 7 executive order to limit eligibility for the Public Service Loan Forgiveness program, a debt relief plan that wipes out student loan balances for eligible teachers, nurses and other public servants after 10 years of on-time payments.