Federal Office (within Education Department)
Appears in 1 story
Core functions being transferred to Treasury
The federal government has managed student loans from the same place for decades: the Education Department's Federal Student Aid office. On March 19, the Treasury Department began absorbing that function — starting with $180 billion in defaulted loans held by 9.2 million borrowers, with plans to eventually take over the entire $1.7 trillion portfolio and the financial aid application that 17 million students complete each year.
Updated 2 hours ago
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