"In a surprising move, President Trump announced the Small Business Administration will take over the $1.7 trillion student loan program, despite federal law requiring the Education Department to manage it."
"Education Secretary Linda McMahon stated she's working on a strategic plan with the SBA for managing the student loans, following Trump's executive order to streamline her department."
President Trump announced that the Small Business Administration (SBA) would take control of the $1.7 trillion student loan program, despite federal law mandating the Education Department manage it. Education Secretary Linda McMahon is reportedly collaborating with the SBA to create a strategic plan for handling student loans, following Trump's directive to reduce the Education Department's functions. However, the capacity of the SBA to manage such a significant program remains uncertain, especially as reports indicate a planned 43% staff reduction at the agency.
#education-policy #student-loans #small-business-administration #trump-administration #government-regulation
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