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