Update: European-based BAE has proposed its Hawk to replace the T-38.

The US Air Force has already replaced its primary training aircraft:  The T-37 has now been replaced by the T-6.  The T-38 is the second tier of basic pilot training, the aircraft in which all fighter pilots (and sometimes bomber pilots, depending on what year students attended) complete pilot training.  A report out at the Air Force Times indicates the Air Force is “looking to replace” the jet trainer.  Given the age of the planes and the horizon of the acquisition process, it might be a statement of the obvious.

The 50 year old T-38s have already been updated with advanced avionics and even completely new ejection systems.  Updates don’t make the aircraft any newer, however, and the aging fleet of T-38s will ultimately need to be replaced.