Federal Student Assistance Partnership
The Bottom Line
The Trump administration is moving the $1.7 trillion federal student loan program from the Education Department to the Treasury Department. This is the first step in a plan to shut down the Education Department and give states more control over schools. The change starts with the Treasury Department taking over the collection of loans that are already in default.
Key Statements
“The Department of Education announces a three-phase plan to transfer the federal student loan portfolio to the Department of the Treasury, beginning with loans in default.”
Provides the specific three-phase timeline and starting point for the loan transfer.
“President Trump signs an executive order directing Education Secretary Linda McMahon to dismantle the Department of Education and return authority to the states.”
Identifies the executive order and the broader goal of dissolving the Education Department.
12 Articles
What student-loan borrowers need to know about their accounts being moved to Treasury
Trump administration tasks Treasury Department with student loan collection. What borrowers need to know
Trump's push to abolish the Education Department reaches student loan portfolio
US Treasury to collect student loan debt in Education Department dismantling
'Hard reset': Education department shrinks with handoff of student-loan management to Treasury
Treasury Department to take over some federal student loans, as Trump administration works to dismantle Education Department | CNN Politics
Political Response
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