The Trump administration announced Thursday a three-phase transition that will move significant management of and responsibility for the nation’s federal student loan portfolio from the U.S. Education Department to the U.S. Treasury Department.

The administration says the Treasury Department is better equipped to, among other things, help millions of borrowers who are in default return to repayment on their loans, though the move is also political: The latest sign of President Trump’s efforts to close the Education Department.

 

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