Trump 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
With Department of Education gutted, what happens to student loans?
With Department of Education gutted, what happens to student loans? kcpnews2 Tue, 03/25/2025 - 05:37 Image (United States News Service) Click play to listen to this article. Audio file Student loans are among the areas overseen by the U.S. Department of Education and since President Donald Trump has followed through on his threat to gut the agency, questions are mounting about the fate of loan services.The president signed an order Thursday h…
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…
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