"The nation’s $1.7-trillion federal student-loan portfolio will be transferred immediately from the U.S. Department of Education to the Small Business Administration, whose staff is simultaneously being cut by 43 percent, the Trump administration announced in two separate statements Friday," The Chronicle of Higher Education reports.

... "Beth Maglione, interim president of the National Association of Student Financial Aid Administrators, also raised doubts about the move, which could be disruptive to students and families waiting to hear whether they’ve been accepted to colleges and will be receiving financial aid."

"'It’s unclear whether transferring student-aid programs to another agency, such as SBA, can happen without congressional action, as the Higher Education Act specifically states that the Department of Education must administer Title IV student-aid programs,' Maglione wrote in a statement. Conflicting and unclear information from the administration, she said, is only adding to the uncertainties."

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: 3/21/2025