"Incoming-President Donald Trump's second term is expected to have its share of shake-ups. Trump has promised to shut down several government agencies in an effort to reduce wasteful spending, which could have dramatic effects on the way government works," Investopedia reports.

... "If the Education Department does go away, federal student loans will likely fall under the purview of a different government agency."

... "Without a government agency that focuses exclusively on education, what would happen to existing student loans? Unfortunately for borrowers, it’s highly unlikely that the Trump administration would forget (or forgive) these debts altogether. If the Department of Education was dismantled, it's much more likely that an agency like the Department of Justice, Department of Labor, or Treasury Department could be put in charge of student loans. Of course, these agencies would likely need additional staff and support in order to take on the additional workload."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 1/2/2025