SBA Will Take Over Student Loans as Department of Education Is Overhauled, Trump Says

President Donald Trump announced on March 21 that two primary functions of the Department of Education will be moved to other federal agencies.
Student loan processing will be moved to the Small Business Administration (SBA), and the oversight of funding and some programming for students with special needs will be moved to the Department of Health and Human Services.
This announcement comes less than 24 hours after Trump signed an executive order calling for the agency’s partial elimination while preserving funding and oversight for Pell grants, special education, and Title I funding for low-income students.
“Those two elements will be taken out of the Department of Education, and then all we have to do is get the students to get guidance from the people that love them and cherish them—including their parents, by the way, who will be totally involved in their education, along with the boards (of education) and the governors and the states,” Trump said this morning….