Department of Education under Trump just took its 'largest' step closer to shutting down

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. 'Outnumbered' discusses President Donald Trump's Supreme Court victory allowing him to massively reduce the size of the Department of Education. The Department of Education (ED) just took a big step closer to shutting down. The Trump administration announced on Thursday an interagency agreement between the ED and the Treasury to move student lending operations to the Treasury, which will "assume operational responsibility for collecting on defaulted Federal student loan debt and provide operational support to ED’s efforts to return borrowers to repayment," the ED said in a release. "I think we've been very clear this last week that this is a multiphase process," Nicholas Kent, Undersecretary of Education, told Fox News Digital on Monday. DEPARTMENT OF EDUCATION TO PULL BACK RACE-BASED CRITERIA IN FEDERAL GRANTS The U.S. Department of Education buildi