Trump Administration Transfers Student Loans to Treasury
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Trump Administration Transfers Student Loan Portfolio to Treasury: A New Era for Borrowers?
The Trump administration plans to transfer the Education Departments $1.7 trillion student loan portfolio to the Treasury Department, focusing on borrowers who have defaulted or are behind on payments. This move is part of a broader effort to phase out certain repayment plans and tap Treasurys financial expertise. While supporters see it as a way to fix mismanagement and streamline aid, critics worry it may add confusion for borrowers. The Treasury will handle collecting on defaulted loans and supporting efforts to get borrowers back into repayment. Borrowers are advised to seek guidance from the Federal Student Aid office as these changes unfold.
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