U.S. Department of the Treasury

A historic expansion of education freedom is underway in America. Signed into law by President Donald Trump on Independence Day 2025, the Federal Tax Credit Scholarship, also known as the Education Freedom Tax Credit, is poised to transform educational opportunities for millions of American children. Beginning January 1, 2027, taxpayers can contribute to an approved nonprofit scholarship granting organization and receive a dollar-for-dollar federal tax credit up to $1,700 for individuals and $3,400 for married couples filing jointly. Importantly, the program has no annual cap on total contributions and does not sunset, creating the potential for billions of dollars in privately funded scholarships each year long into the future. The impact could be extraordinary. By 2030, the U.S. Department of Read More ›

For decades, the Department of Education has operated the federal student loan system on autopilot, continually expanding its size, complexity, and cost. The result is a $1.7 trillion portfolio — nearly twice the size of all university endowments combined and larger than JPMorgan Chase’s loan portfolio, the nation’s largest bank — yet it operates without the financial expertise, transparency, or accountability a system of this scale requires. The Department of Education reports that fewer than 40 percent of borrowers are in repayment, and nearly a quarter of borrowers are in default. While not designed to function as a bank, the Department of Education has been managing what is effectively the fifth-largest financial institution in the United States. A course correction Read More ›