US Education Dept Transfers Student Loans to Treasury
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The U.S. Education Department is transferring parts of its student loan portfolio to the Treasury Department, marking the first step in a plan to shift all loan management away from the agency. This move comes as a response to the Trump administrations criticism of the Education Departments handling of student loans, with less than half of borrowers keeping up with payments and nearly one quarter in default. The Treasury will gradually take over non-defaulted loans, but critics question if they have the necessary expertise for such complex debt handling. The future of the governments trillion-dollar student loan system remains uncertain as talks continue on where full oversight might land next.
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