"A day after White House officials said the Education Department would administer the student loan program, President Donald Trump announced that the Small Business Administration would be taking over the $1.7 trillion portfolio," Inside Higher Ed reports.

... "Beth Maglione, interim president of the National Association of Student Financial Aid Administrators, added in a statement that only Congress can move the student loan portfolio to a different agency; if the legislative branch agreed, doing so would take time."

"'The administration would first need to articulate a definitive strategy outlining how the work of administering student aid programs would be allocated within the SBA, determine the necessary staffing and resources, and build the requisite infrastructure to facilitate the transition of these programs to another federal agency,' she said. 'In the absence of any comprehensive plan, a serious concern remains: how will this restructuring be executed without disruption to students and institutions?'"

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