Trump moves to shift the $1.7 trillion student loan system to Treasury, a major step toward dismantling Education Department.
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The Education Department says its latest move to distribute its duties to other federal agencies will include Treasury taking on much more student financial aid oversight in the future.
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The U.S. Treasury Department is taking over management of student loans from the Education Department, a significant policy shift amidst ongoing changes in federal education management.
The Trump administration announced a three-phase transition that will eventually include management of most federal student loans as well as the Free Application for Federal Student Aid (FAFSA).