Trump Seeks To Transfer Federal Student Loan Oversight From Education Department

President Donald Trump wants to transfer federal student loan management from the Department of Education to another agency, according to CNBC.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Donald Trump wants to transfer federal student loan management from the Department of

00:06Education to another agency, according to CNBC. The president stated that handling student loans

00:11is not the Education Department's responsibility, but closing the agency would require congressional

00:16approval. The president could transfer federal student loan management to the Treasury Department,

00:22Commerce Department, or Small Business Administration. Critics warn that shifting

00:27loan accounts could create disruptions, delaying loan forgiveness applications,

00:32and worsening existing issues for borrowers. For all things money, visit Benzinga.com slash GSTV.