US EditionTrump says student loans will be handled by Small Business Administration
- President Donald Trump announced that the Small Business Administration will manage the federal student loan portfolio instead of the U.S. Department of Education, stating that outstanding federal education debt exceeds $1.6 trillion, with more than 40 million Americans holding student loans.
- This announcement follows Trump's executive order aimed at dismantling the Education Department, though only Congress can completely eliminate the agency.
- Concerns were raised about how this change might affect protections and programs like Public Service Loan Forgiveness, as noted by experts.
- Experts suggested that neither the Commerce Department nor the Small Business Administration has relevant experience for managing student loans.
143 Articles
143 Articles
Trump says Education Department will no longer oversee student loans, 'special needs'
The president said federal student loans would move to the Small Business Administration, and hinted that the Department of Health and Human Services would take over special education oversight.
Trump would shift student loans, other programs from Education to other homes - The Southern Maryland Chronicle
WASHINGTON — President Donald Trump said Friday that the U.S. Small Business Administration would handle the student loan portfolio for the slated-for-elimination Education Department, and that the Department of Health and Human Services would handle special education services and nutrition programs.The announcement — which raises myriad questions over the logistics to carry out these transfers of authority — came a day after Trump signed a swee…
Trump says Small Business Administration will take over Department of Education’s student loan portfolio
President Donald Trump said Friday that the Small Business Administration will absorb the Department of Education’s massive student loan portfolio as he seeks to dismantle the agency and shift more power over education to the states.
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