Chances are you have student loans or you know someone who does.

Millions of Americans are saddled with that debt and some big changes could be coming to how the government deals with them.

For one, the Education Department may consolidate the number of federal lenders. Currently, there are nine but it would go down to just one. This would help deal with the more than 44 million Americans dealing with education debt. The student loan total is a staggering $1.34 trillion — that’s more than credit card or car loan debt.

In the president’s submitted budget plan, the federal loan program would move from the Education Department to the Treasury Department.

One Valley attorney says it’s all about the bottom dollar for the country.

Attorney Adam Buck with Radix Law says, “It would be more rigid with collections. Less emphasis on helping people become educated and more emphasis on reducing the number of defaults and collecting more money.”

A lot of parents know sending your kid to college really hurts the wallet. Many parents have what is called the PLUS loan.

It stands for “parent loan for undergraduate students.”

Some Republican lawmakers proposed a bill eliminating the loans, claiming they aren’t being used properly.

But supporters say it’s some students’ best way of getting that degree.

Studies show students in 2016 graduated with an average of more than $37,000 in student loan debt. Compare that to ten years ago when it was just over $20,000.

Buck says student loan problems start with education which is getting more and more expensive.

“If we continue that then where does it stop? …These are nondischargeable in bankruptcy. There’s really no easy way to get out of them. And so when you’re 20 years old you’re mortgaging your future by taking out as much as you possibly can,” Buck adds.