With President-elect Donald Trump set to take office in two months, millions of Americans are questioning what will happen to their student loan forgiveness. Under the Biden administration, nearly 5 million borrowers had their federal student loans forgiven, totaling $175 billion. Now, borrowers worry Trump could reverse that relief.

“I’ve been getting a lot of emails from borrowers concerned that President Trump could claw back their forgiveness,” said Mark Kantrowitz, a higher education expert. But is this fear justified?

Legal Experts Say Forgiven Loans Are Safe

Experts are clear: Loans that have already been forgiven are legally protected. Betsy Mayotte, president of The Institute of Student Loan Advisors, explained, “Any regulatory changes must be prospective only,” meaning new rules would only impact future borrowers—not those who have already received forgiveness.

The terms of federal student loans are locked in by a master promissory note signed when the loan is issued. These terms cannot be changed retroactively, even by a new president.

Kantrowitz added, “The president does not have the legal authority to reinstate forgiven loans.” In June, a federal judge ruled that student loan forgiveness has an “irreversible impact,” further solidifying protections for borrowers.

Borrowers Should Keep Records of Forgiveness

While the chance of forgiven loans being reinstated is extremely low, experts urge borrowers to keep thorough records. Notices confirming loan forgiveness, documents showing a $0 balance, and any other related paperwork could be useful in case of errors or disputes.

In rare cases, loan balances have been reinstated due to errors, like when borrowers were mistakenly granted forgiveness under the Public Service Loan Forgiveness program before meeting eligibility requirements. However, these incidents are exceptions, not the rule.

What Could Change for Future Borrowers?

While forgiven loans are safe, Trump’s administration is likely to end Biden’s broader push for student loan relief. Borrowers hoping for new forgiveness measures or changes to existing programs may see those efforts halted under Trump, a vocal critic of loan forgiveness policies.

Still, experts emphasize that borrowers currently working toward forgiveness through programs like income-driven repayment or Public Service Loan Forgiveness are likely safe, as their loan terms are legally binding.

Don’t Panic—Your Forgiveness Is Protected

For now, borrowers who have already had their loans forgiven can breathe a sigh of relief. “Don’t worry,” said Kantrowitz. “Forgiven loans cannot legally be reinstated.” However, those pursuing forgiveness or relying on future relief should prepare for potential changes in policy.

The best course of action? Keep your records organized, stay informed, and remain cautious as the new administration takes office. Borrowers may face uncertainty, but legally, forgiven loans remain off-limits for reinstatement.