March 11, 2025
Financial Assets

If Trump closes the Education Department, what happens to student loans?

President Donald Trump is expected to act soon on his promise to dismantle the federal Department of Education, the agency that supplies a small percentage of funding to public schools, enforces anti-discrimination laws, and administers the Student Aid Program. It also oversees federal student loans held by nearly 43 million people, or one in six

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Financial Assets

Department of Education: What will happen to student loans if Donald Trump shuts down Department of Education? Will the debt be erased?

US President Donald Trump has long advocated for dismantling the Department of Education (DOE), arguing that education policies should be controlled at the state and local levels. With his renewed push to eliminate the agency, many student loan borrowers are left wondering: Would their debt be erased if the department no longer exists? While the

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