^{The Bottom Line} Federal Student Loans Are Moving from the U.S. Department of Education to Small Business Administration

On March 21, President Trump announced from the Oval Office that the federal student loan portfolio would move from the U.S. Department of Education to the Small Business Administration.

This announcement came the day after the president signed the “Improving Education Outcomes by Empowering Parents, States, and Communities” executive order into law, which directs the Secretary of Education to take all lawful steps toward closing the U.S. Department of Education.

Moving the federal student loan portfolio out of the U.S. Department of Education is an important step in winding down the department.

Furthermore, it is a commonsense decision to have the Small Business Administration’s financial experts — who already manage a massive number of small loans every day — oversee the approximate $1.6 trillion of loans for 43 million borrowers instead of education policy personnel.

This is a welcome change that is positioned to increase service quality and overall efficiency. It’s also important to note that the terms of the loans won’t change just because the management moves from the U.S. Department of Education to the Small Business Administration.

Federal student loans have been a disaster since the Biden administration’s unlawful measures to cancel student debt. It was an attempt to remove legally binding fiscal responsibility from borrowers who chose to attend college and inappropriately put it on everyday hard-working Americans who didn’t go to college with that debt.

Thankfully, better days are ahead as President Trump continues to deliver on his promise to the American people to dismantle the 45-year massive failure of the U.S. Department of Education by moving key student services to other agencies and returning control back to the states.

Click HERE to listen to Dr. Keri D. Ingraham’s interview on NTD News Today, or watch below.