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.
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.
#education-policy #student-loans #small-business-administration #trump-administration #government-regulation
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