Federal student loans also offer hardship benefits, such as loan deferment and forbearance, which can keep your loans in good standing for a period of time when you're unable to make payments. Private student loans may offer some hardship assistance but don't offer the same benefits.

A GOP bill known as the Student Success and Taxpayer Savings Plan wouldn’t necessarily lead to a massive surge in private student loans. But it could force more students to consider them or find ways to borrow significantly less for their degrees.

The student loan forgiveness and repayment overhaul could leave these eight groups—from Pell recipients to PSLF borrowers—worse off. Here's who stands to lose.