Trump says student loans moving to SBA [Small Business Administration]

President Trump said Friday he is “immediately” moving the handling of federal student loans to the Small Business Administration (SBA), and shifting programs for students with disabilities to the Department of Health and Human Services (HHS) as his White House seeks to wind down and eventually eliminate the Education Department.

“I’ve decided that the SBA, the Small Business Administration, headed by Kelly Loeffler, will handle will all of the student loan portfolio,” Trump told reporters in the Oval Office, noting it is a “pretty complicated deal, and that’s coming out of the Department of Education immediately.” 

The move to send student loans to the SBA came the same day the administration announced a 40 percent cut to that agency’s workforce.

Student loans are one of the largest programs the Education Department handles.

The declaration by the president to move these programs out of the Education Department will almost certainly be challenged in court, as well his actions against the department more broadly.

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