Borrowers can start taking steps now to prepare for anticipated changes to student loan forgiveness and repayment next year.

Student loan borrowers are worried about their financial futures in the wake of the election of Donald Trump, whose rhetoric has been hostile toward Joe Biden-era loan forgiveness plans.

With only months left in his term, Biden wants to forgive the loans of nearly eight million borrowers experiencing "hardship."

Attempts to deliver wide-scale student loan relief will likely be halted. While Trump hasn't been clear on his plans, he has been a staunch critic of federal student loans and attempts to reduce loan balances.