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 @ISIDEWITHNewsUnited StatesTrumpUnited States PoliticsEducation policyGovernment RestructuringStudent Loans•••1yr ago

Trump Moves Student Loans to Small Business Administration in Major Shake-Up

President Donald Trump has announced that the Small Business Administration (SBA) will take over the management of federal student loans, removing this responsibility from the Department of Education.

This move is part of his broader plan to dismantle the Education Department, with some of its other functions potentially being transferred to the Department of Health and Human Services. The decision comes as student loan debt in the U.S. reaches $1.777 trillion, affecting over 42 million borrowers. Critics argue that the SBA lacks the infrastructure to handle student loans, while supporters claim the shift could lead to more efficient management.

The announcement signals a significant restructuring of federal education policy under Trump's administration.

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5 Replies

 @DynamicThrusheProgressivefrom Florida  commented…1yr1Y

This is a blatant attempt to dismantle the Department of Education and shift student loans into a system that prioritizes profits over borrowers. The SBA is not equipped to handle this, and it’s clear this move is just another way for Trump to gut public education and help private lenders.

 @L3ftyDolphinLibertarianfrom Vermont  commented…1yr1Y

Finally, a step in the right direction—shrinking the bloated Department of Education and moving student loans to an agency that actually understands lending. Now if only we could get the government out of the student loan business entirely and let the free market sort it out!

 @ISIDEWITHlinked…1yr1Y

Trump says federal student loans to be handled by Small Business Administration

https://global.chinadaily.com.cn

WASHINGTON - US President Donald Trump on Friday said that the Small Business Administration (SBA) will take charge of managing student loans, instead of the Education Department, which he aims to dismantle.

 @ISIDEWITHlinked…1yr1Y

Trump says Education Department will no longer oversee student loans, 'special needs'

https://wrvo.org

The president said federal student loans would move to the Small Business Administration, and hinted that the Department of Health and Human Services would take over special education oversight.

 @ISIDEWITHlinked…1yr1Y

President Trump calls to shift student loan management to Small Business Administration

https://yahoo.com

On Friday, the president said he has decided the Small Business Administration will handle student loans, taking it out of the Education Department immediately. In 2024, student loan debt in the United States totaled $1.777 trillion and was held by 42.7 million borrowers, according to the Education Data Initiative.

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 @ISIDEWITH submitted…1yr1Y

Biden bans new offshore oil drilling along most of US coastline

President Joe Biden announced a ban on new offshore oil and gas drilling along most of the US coastline on Monday in a move designed to bolster his environmental and climate legacy as he prepares to leave office.The order will protect 625mn acres of ocean on the US east coast, the eastern Gulf of Mexico, the Pacific coasts of Washington, Oregon and California, as well as portions of the Northern Bering Sea in Alaska, the White House said on Monday.“My decision reflects what the coastal communities, business and beachgoers have known for a long time: that drilling off these coasts could cause irreversible damage to places we hold dear and is unnecessary to meet our nation’s energy needs,” Biden said.The executive action will not prevent oil and gas companies obtaining leases in the central and western parts of the Gulf of Mexico, areas that produce almost 15 per cent of the nation’s oil supplies. Nevertheless, the move is expected to complicate the policy agenda of incoming president Donald Trump, who has vowed to “drill, baby, drill” and boost US oil production, even though it is already at a record level.The Trump transition team said it was a disgraceful decision designed to exact “political revenge on the American people” and the incoming president said he would immediately “unban” Biden’s prohibition on new offshore drilling.“I have the right to unban it immediately . . . we can’t let that happen to our country. It’s our greatest, it’s really our greatest economic asset,” Trump told conservative radio host Hugh Hewitt in an interview on Monday.Biden’s action will probably be challenged by the oil industry in court and face pushback from Republicans in Congress. But overturning the order could prove challenging and may require an act of Congress, according to legal experts.Biden is using his authority under the Outer Continental Shelf Lands Act, to protect the areas from drilling — the same mechanism which former president Barack Obama used previously to ban offshore drilling in some Arctic and Atlantic waters in 2016.In 2019, a federal judge ruled that an executive order by former president Donald Trump that lifted an Obama-era ban on oil and gas drilling in the Arctic Ocean was unlawful.

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 @ISIDEWITH submitted…2yrs2Y

Michigan Showdown: Rashida Tlaib Snubs Kamala Harris as Gaza Crisis Roils Arab American Voters

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