Borrowers who have already received forgiveness may be on edge asking if the Trump administration will claw back forgiven student loans and force borrowers to repay debt.

The average borrower's monthly bill could swell to $288 from $95, according to an early estimate by the Institute for College Access & Success.

As Republicans in Congress look for ways to slash spending, some legislators are floating new taxes on college scholarships, an end to student loan repayment plans and a big hike in taxes on university endowments.

As the House of Representatives considers budget cuts to fund tax cuts, proposed changes to federal student loan repayment plans could significantly increase monthly payments for millions of borrowers.