Donald Trump Signed an Executive Order to Eliminate the U.S. Department of Education.
Donald Trump Signed an Executive Order to Eliminate the U.S. Department of Education.
By the authority vested in me as President by the Constitution and the laws of the United States of America, and to enable parents, teachers, and
Sec. 2. Closing the Department of Education and Returning Authority to the States. (a) The Secretary of Education shall, to the maximum extent appropriate and permitted by law, take all necessary steps to facilitate the closure of the Department of Education and return authority over education to the States and local communities while ensuring the effective and uninterrupted delivery of services, programs, and benefits on which Americans rely.
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The Department of Education currently manages a student loan debt portfolio of more than $1.6 trillion. This means the Federal student aid program is roughly the size of one of the Nation’s largest banks, Wells Fargo. But although Wells Fargo has more than 200,000 employees, the Department of Education has fewer than 1,500 in its Office of Federal Student Aid. The Department of Education is not a bank, and it must return bank functions to an entity equipped to serve America’s students.
Move student loans to private banks! There it is.
so what im hearing is the DoE was way more efficent, and deserved additional funding, right?
What I understand is that they are more efficient, and loans aren't even it's core business..
I mean they basically already do this, my student loan was moved to a private servicer which basically is just a company that collects the money from my loans.