Intro recent court filings had thrown student loans into uncertainty leaving many borrowers full of anxiety and wondering what's next in this video I'm going to explore four potential outcomes from the upcoming election and reveal how each one can impact your student loan repayment plan with that being said let's jump into The First Outcome it let's start with the first potential outcome president Trump wins but Congress remains divided we already expect the Supreme Court to strike down the new save program and there's a high likelihood they're going to strike down pay as you earn as well so that would leave only three repayment plans left the standard plan the extended plan as well as income based repayment ibr in this scenario we don't see any new plans being brought forth in the next four years and that's the good news about this scenario is that we know that we're going to have certainty for the next four years the bad news is that for a lot of people their payments are going to go up to what they were underneath President Obama and president Trump's first term now the next outcome is where The Second Outcome things start getting a little bit tricky in this scenario Trump wins and Congress goes to Republicans both the house and the Senate this gets tricky because there's been a lot of talk that if this scenario happens then they're going to eliminate all income driven repayment plans however I don't really know if that's true or not because underneath president Trump's first term student loans were kind of like an afterthought and they didn't want to do anything with them so while the anxiety I see is is real that this scenario might happen and income J repayment plans are eliminated we actually don't expect any dramatic changes here so what you need to know in this scenario from our standpoint is that you're still going to have three repayment plans standard extended and ibr however what you need to keep in the back of your mind is that in this scenario if it happens there is a small chance that the income driven repayment plans all go away before we continue this is a big deal so if you're feeling anxious you're not alone our goal is to update you as soon as we get new information about student loans as well as everything else that affects young professionals financially so be sure to subscribe so you can stay informed and prepared so that way you can reduce the anxiety and stress levels when it comes to the student loan repayment stuff in this next scenario Third Outcome things can get really messy this scenario is Harris winning but Congress staying divided and this gets messy because we're probably going to see a lot of back and forth the same way that we've been seeing that for the last four years meaning this if the Supreme Court strikes down save and pay as you earn then the Harris Administration and the Department of Education I expect would be coming out with their own version of an income based repayment plan but just like we've seen the last four years those new plans would probably face Court challenges as well creating even more uncertainty for borrowers if that sounds frustrating it's because it is and the fource scenario doesn't clean up that Fourth Outcome frustration either and in that scenario is if Harris wins and Democrats take full control of Congress now in that scenario I think we would see a lot of movement meaning the Democrats would try to codify and to law new income based repayment plans which would mean that they were harder to challenge in court how generous these new plans would be it all just depends on how much Democrats want to push now I said that this could still be messy even though it's codified in the law because they could still face Court challenges it' be similar to what we saw with Obamacare so the result of this for scenario potentially a lot more chaos so where does this leave you at right now it looks like ibr is going to remain an option so that's a good fallback plan but the next video you should watch is to make sure you understand how ibr works [Music]