Trump Admin Shifts Student Loan Management to Treasury
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Trump Administration Transfers Student Loan Management to Treasury Department: What It Means for Borrowers
The Trump administration announced a significant shift in managing the $1.7 trillion federal student loan portfolio, moving it from the Department of Education to the Treasury Department. This change will occur in phases, starting with Treasury taking over defaulted loans, followed by non-defaulted loans, and eventually the full program. Borrowers are assured that nothing changes immediately, with repayment plans and rates remaining the same. However, borrower advocates and critics express concerns about potential confusion, legal challenges, and increased pressure on stretched households.
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