Saving on a Valuable Education student loan repayment plan -- could be next on the chopping block. SAVE is an income-driven student loan repayment plan that was implemented during former President Biden's administration.

President Donald Trump has reportedly set his sights on eliminating the U.S. Department of Education, a long-time Republican goal and promise from his campaign. The proposed plan, though, gives rise to a host of unanswered questions—not least of which is what happens to the 42-plus million Americans with federal student loan debt.

Although President Trump has only been in office for a matter of weeks, he’s already trying to make big changes. And one of those changes is to upend the Department of Education by either closing parts of it or eliminating it for good.