The Trump administration is taking the first step toward putting its own stamp on income-driven repayment, a suite of affordable repayment plans for student-loan borrowers.  Officials announced Thursday that they would begin the regulatory process to make changes to certain rules under the Department of Education’s purview.

This move to gather feedback may be in response to President Donald Trump's March 7 executive order to limit eligibility for the Public Service Loan Forgiveness program, a debt relief plan that wipes out student loan balances for eligible teachers, nurses and other public servants after 10 years of on-time payments.

The Department of Education took a key step to initiate a process that could result in major changes to federal student loan forgiveness and repayment programs.