Trump’s Student Loan Forgiveness Shockwave: 2M Borrowers Freed, Stocks on Edge
Public Service Loan Forgiveness Overhaul On Oct. 30, 2025 the Dept. of Education finalized a sweeping change to the PSLF program. Citing President Trump’s March 2025 executive order on PSLF, the final rule narrows the definition of a “public service employer” to exclude organizations with a “substantial illegal purpose” ed.gov. That includes entities convicted of aiding illegal immigration, supporting terrorism, providing gender‑affirming care to minors (“prohibited medical procedures”), etc. In announcing the rule, Undersecretary Kent argued that “taxpayer funds should never directly or indirectly subsidize illegal activity” and that PSLF must be refocused on “our Nation’s teachers, first responders, and civil
