• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
SuccessDonald Trump

From $500 to $5000: millennials are watching their monthly student loan payments skyrocket under Trump and panicking on TikTok

Preston Fore
By
Preston Fore
Preston Fore
Success Reporter
Down Arrow Button Icon
Preston Fore
By
Preston Fore
Preston Fore
Success Reporter
Down Arrow Button Icon
March 17, 2025, 12:10 PM ET
Millions of college grads are facing nightmarish monthly student loan payment jumps due to Donald Trump's changes to income-driven repayment plans.
Millions of college grads are facing nightmarish monthly student loan payment jumps due to Donald Trump's changes to income-driven repayment plans.Gorica Poturak—Getty Images
  • Millions of Gen Z and millennial post-grads are facing towering monthly student loan payments due to Donald Trump’s changes to income-driven repayment plans.

If you’re one of the over 42 million borrowers with federal student loan debt, now is a good time to check your payment portal.

Many borrowers are facing nightmarish monthly payment jumps due to changes to income-driven federal student loan repayment programs—and it is likely to leave many Gen Zers and Millenials defaulting on their loans.

“My payment is going to quadruple,” Ally Rooker shared in a viral TikTok video. Her student loan payment for her public health degree is expected to increase from $250 a month to $900. 

Last month, a federal judge blocked the Biden administration-era SAVE plan, an income-driven student loan replacement program with 8 million borrowers, claiming it lacked the authority to forgive millions of dollars in debt. In response, the Trump administration paused all applications for income-driven repayment plans and online loan consolidation, leaving some borrowers in limbo struggling to make ends meet.

“What Trump is doing on student loans is literally going to crash the economy,” Rooker added.

Another TikToker took to the platform to describe her husband’s dramatic 10x payment increase—from $500 a month to close to $5,000.

“It is an obscene amount and a huge portion of our income each month,” she said.

Because of an average 6.3% interest rate on his dental school loans, she said it’s hard to get on top of principal payments. A previous aspiration to buy a house—a core part of the American dream—is essentially unattainable for the next decade, as they pay back the loans.

“We literally already have a mortgage payment—and it’s his loans,” she said. “$5,000 is more than a mortgage payment, that would be a very nice house.”

There’s no clear end to student loan uncertainty

Students enrolled in the SAVE plan have largely been able to ignore their student debt for months due to court battles placing the loans in forbearance, meaning payments were not required and interest was not accrued. However, according to the U.S. Department of Education, the forbearance is expected to end later this year, and servicers expect first payments to be due no earlier than December 2025. 

For those who find themselves with an unexpectedly high new monthly payment, especially for something like not being able to recertify their income, contacting the department may be a struggle. Close to 50% of the department is in the process of being laid off, and Trump has repeatedly stated he plans to shut the department down entirely.

Every student loan borrower may have a different situation, so it is best to stay on top of your payment requirements. For borrowers who anticipate having to start repaying loans soon, experts say it is important to start saving money now, keep adequate records, and if necessary, try to contact the education department, your member of Congress, or your student loan provider.

Students sold a lie

Rising costs of obtaining a four-year degree—and skepticism over the future of student loans—are creating anger among Gen Z students. Robbie Scott, a 27-year-old went viral on TikTok for expressing his frustration that despite all efforts to work hard, the system is bringing young people down.

“What’s sh-tty is, we’re holding up our end of the deal,” Scott said. “We’re staying in school. We’re going to college. We’ve been working since we were 15, 16 years old…doing everything that y’all told us to do so that we can what? Still be living in our parents’ homes in our late twenties?”

Staring down a tougher-than-ever job market and being told by executives that their degree holds little value, college graduates are faced with feelings of regret—having realized that a four-year degree may have left them worse off financially. The average student borrower owes $38,000—a price tag that may take decades to pay off.

In reality, the career path that may lead to a high-paying, secure job may be in the trades industry, and some Gen Zers have already caught on. Over half of the generation is now considering a skilled trade career path, like becoming an electrician or plumber.“You get paid to go to school, you get paid when you’re at school, and when we graduate, we’ll make $109,000 a year,” wrote one electrical apprentice in a viral Salary Transparent Street TikTok video.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Author
Preston Fore
By Preston ForeSuccess Reporter
LinkedIn iconTwitter icon

Preston Fore is a reporter on Fortune's Success team.

See full bioRight Arrow Button Icon

Latest in Success

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Success

A 5-week course and a guaranteed job: Meta commits $115 million to solve the skilled-trades shortage stalling its AI buildout
Future of WorkMeta
A 5-week course and a guaranteed job: Meta commits $115 million to solve the skilled-trades shortage stalling its AI buildout
By Jacqueline MunisJune 10, 2026
4 hours ago
Xbox CEO Asha Sharma
SuccessCareers
Xbox’s CEO spent her early career taking out trash and selling coupon books—she says the secret to her rise was never obsessing over a dream career
By Preston ForeJune 10, 2026
6 hours ago
Boris Cherny, Head of Claude Code
SuccessHiring
The architect behind Claude Code reveals the three things Anthropic looks for in a good hire—and why people with low ego are a must
By Emma BurleighJune 10, 2026
6 hours ago
Meryl Streep says she was ‘ready to retire’ when the call for ‘Devil Wears Prada 2’ came—so she demanded they double her salary or nothing
SuccessThe Promotion Playbook
Meryl Streep says she was ‘ready to retire’ when the call for ‘Devil Wears Prada 2’ came—so she demanded they double her salary or nothing
By Orianna Rosa RoyleJune 10, 2026
7 hours ago
knicks
SuccessNew York
‘Knicks in 6. 2026 NBA Finals’: Why did this New Yorker make a prophecy in his 2020 high school yearbook?
By Philip Marcelo and The Associated PressJune 10, 2026
7 hours ago
platner
PoliticsElections
Graham Platner easily prevails over attempts to derail progressive Senate candidacy in Maine
By Patrick Whittle, Kimberlee Kruesi and The Associated PressJune 10, 2026
7 hours ago

Most Popular

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
2 days ago
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
Economy
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
By Nick LichtenbergJune 9, 2026
1 day ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
2 days ago
Current price of oil as of June 9, 2026
Personal Finance
Current price of oil as of June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
Investing
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
By Eva RoytburgJune 9, 2026
23 hours ago
Current price of silver as of Tuesday, June 9, 2026
Personal Finance
Current price of silver as of Tuesday, June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.