Treasury to Take Charge of Federal Student Loans in a 3-Phase Plan
TL;DR Summary
Education officials unveiled a three-phase plan to gradually transfer the roughly $1.7 trillion federal student loan portfolio from the Education Department to the Treasury, starting with defaulted loans, then non-defaulted loans, and finally program enforcement, aiming for a seamless transition but drawing questions from critics about oversight and potential red tape.
Topics:nation#default-loans#education-department#interagency-agreement#policy#student-loans#treasury-department
- Education Department lays out plan to move student loan portfolio to Treasury Politico
- Student loans to go to Treasury Department as Trump continues to dismantle Education Department AP News
- Student Loan Office to Leave the Education Department The New York Times
- If you have student loans, here's what to know about Treasury move USA Today
- McMahon sends letter to 9M delinquent student borrowers that Bessent is new debt collector — with $425B on the line New York Post
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