Trump announces what will happen to student loans after signing EO to dismantle Education Department
March 21, 2025
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1:36Now PlayingTrump announces what will happen to student loans after signing EO to dismantle Education Department
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as posted by the channelDuties once carried out by the Department of Education will now be handled by the Small Business Administration and Department of Health and Human Services, President Trump revealed Friday after ordering DOE to begin winding down operations.
“I’ve decided that the SBA, the Small Business Administration headed by Kelly Loeffler, terrific person, will handle all of the student loan portfolio,” Trump told reporters in the Oval Office, referring to the $1.6 trillion in federally backed loans currently under the DOE’s purview.
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