Trump Administration Considers Moving Student Loans from Education Department to Treasury

Trump Administration Considers Moving Student Loans from Education Department to Treasury

The Trump administration is considering moving responsibility for overseeing more than $1 trillion in student debt from the Education Department to the Treasury Department, a switch that would radically change the system that helps 43 million students finance higher education. The potential change surfaced in a scathing resignation memo sent late Tuesday night by James Runcie, the head of the Education Department’s federal student aid program. Mr. Runcie, an Obama-era holdover, was appointed in 2011 and reappointed in 2015. He cut short his term, which was slated to run until…

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Before Leaving Office, Obama Administration Admits It Got Student Loan Data Wrong

Before Leaving Office, Obama Administration Admits It Got Student Loan Data Wrong

In case you ever had any doubts about the inefficiencies of the Department of Education, look no further than the recent revelation that the agency has been vastly underestimating student loan repayment rates. On the last day of the Obama administration’s tenure, the College Scorecard the department established has been quietly revealed to have serious flaws. The Obama administration conceded coding errors found in the College Scorecard inflated college repayment rates, potentially misleading students. The Wall Street Journal went as far as to report that, “on closer inspection, the mistake…

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