Treasury Department begins taking over student loans as the Education Department gets dismantled - AP News
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The Bottom Line
Treasury Department assumes control of federal student loans as Education Department is dismantled.
How This Affects You
Student loan servicing, communications, and repayment programs will be transferred to Treasury, potentially changing how millions of borrowers manage their debt.
AI Summary
The Treasury Department is assuming control of federal student loan operations as the Education Department undergoes dismantling as part of the Trump administration's broader restructuring of federal agencies. This represents a significant shift in how the government manages the nation's student debt portfolio, which affects millions of borrowers. The move reflects the administration's goal to consolidate functions and reduce bureaucracy across federal departments. The transition will determine how student loan servicing, borrower communications, and repayment programs are administered going forward. The Education Department's elimination marks one of the most substantial organizational changes to federal education policy in decades.
What's Being Done
The Treasury Department is beginning to assume control of federal student loan operations as the Education Department undergoes dismantling.
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One year after President Trump signed an executive order calling for the shuttering of the Education Department, the agency has taken its biggest step yet toward self-elimination. On Thursday, the department announced that it would seek to move its $1.7 trillion student loan portfolio to the Treasury, the latest in a series of interagency agreements…
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