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This doesn’t affect private loans.

The Trump administration recently announced defaulted loans will now be managed by the Treasury department.

While this doesn’t affect borrowers directly, experts still recommend getting out of default as soon as possible.

There are two routes to get back on track — rehabilitation, or making a series of on-time loan payments; or consolidation, meaning you combine your loans into one new loan with a new monthly payment and interest rate.

Making efforts to get out of default will ensure that you won’t be subject to harsher penalties.

The Trump administration’s overhaul of student aid includes a new requirement — parents will not be able to use income-driven repayment plans to repay Parent Plus loans. Income-driven plans can lower monthly payments by hundreds of dollars in some cases.

If you are a current parent borrower who wants to have the option of an income-driven plan, you should apply to have your loans consolidated as soon as possible. The loan consolidation process must be completed by July to be eligible for these income-driven plans.

Apply to have your loan consolidated online.

You don’t have anything to worry about right now regarding your repayment plan.

The Trump administration recently announced that it will start moving borrowers off the SAVE plan later this year if they don’t enroll in another repayment plan.

If borrowers don’t switch plans 90 days after July 1, they’ll be automatically enrolled in the standard plan, which has the highest monthly payments. In some cases, those payments can be hundreds of dollars per month.

If possible, experts recommend switching off of SAVE as soon as possible, so that you don’t get placed into a repayment plan with high monthly payments.

Because the SAVE plan has been tied up in courts for almost two years, borrowers haven’t been required to make monthly payments. On the flip side, that means that time won’t count toward forgiveness under PSLF.

To get credit for your payments, experts recommend switching to another repayment plan as soon as possible.

If you’re close to getting forgiveness, you may be able to make some payments retroactively. Learn more about that online.