Treasury Department to take over some federal student loans, as Trump administration works to dismantle Education Department | CNN Politics

The Treasury Department will begin to manage federal student loans in default, taking on a key function of the Education Department as the Trump administration further pushes to dismantle it. The Treasury Department “will assume operational responsibility” for collecting on defaulted federal student loans and “provide operational support” to the Education Department’s efforts to get borrowers to resume paying their loans under the newly announced Federal Student Assistance Partnership. The Education Department announced the move in a joint news release Thursday, and it comes as the agency presses on with efforts to transfer much of its work to other federal agencies in an attempt to convince Congress the department is no longer needed. More than 7 million borrowers are in default, according to the agency. Federal student loans go into default after 270 days without payment. The Treasury will “in subsequent phases,” according to the announcement, eventually take over control of the entirety of the Education Department’s nearly $1.7 trillion loan portfolio. Linda McMahon is dismantling the Education Department — but first she’ll help make school ‘patriotic’ ag