Trump announced plans to shift all federal student loans from the U.S. Department of Education to the Small Business Administration, according to CNBC. The president said that the more than $1 trillion in debt would be “serviced much better.” He claimed the SBA is ready, but experts say such a move requires congressional approval under the Higher Education Act. Legal challenges are likely, especially as Trump also signed an order to dismantle the Education Department. Borrowers are advised to document their loan balances, payment histories, and Public Service Loan Forgiveness progress amid uncertainty.
