The Trump administration is exploring ways to dismantle the U.S. Department of Education, raising concerns for over 40 million federal student loan borrowers. The department oversees the country’s debt of over $1 trillion, and its closure could disrupt financial aid distribution. Shutting down the agency would require congressional approval, and officials are considering an executive order to limit its operations. A Data for Progress poll found that two-thirds of likely voters oppose eliminating the department through executive action. Experts warn that transferring loan management to agencies like the Treasury Department could create confusion and delays for borrowers.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Trump administration is exploring ways to dismantle the U.S. Department of Education,
00:06raising concerns for over 40 million federal student loan borrowers.
00:10The Department of Overseas, the country's debt of over $1 trillion,
00:14and its closure could disrupt financial aid distribution.
00:18Shutting down the agency would require congressional approval,
00:21and officials are considering an executive order to limit its operations.
00:25A Data for Progress poll found that two-thirds of likely voters opposed
00:29eliminating the department, though executive action.
00:32Experts warn that transferring loan management to agencies like the Treasury Department
00:37could create confusion and delays for borrowers.