Latest in Finance and Education
Federal Student Loans Are Moving to the SBA
President Trump has announced that the federal student loan portfolio will be transferred from the U.S. Department of Education to the Small Business Administration (SBA). The sudden shift sparked confusion, but in hindsight, there were subtle hints that such a move might have been in the works.
President Trump Signs Executive Order to Dismantle the U.S. Department of Education
President Donald Trump has signed an executive order to dismantle the U.S. Department of Education. During his campaign he promised to transfer control of K-12 education back to the states and parents. This move also impacts higher education.
IDR and Consolidation Applications Have Been Restored
The electronic applications for income-driven repayment plans and Direct Loan Consolidation are now available. The U.S. Department of Education has indicated that servicers will be processing the applications in the "near future."
Skills vs Formal Education - Which is More Marketable
For generations, the common life path was to graduate high school, attend college, and start a career. However, recent professional and economic shifts have made the college degree less necessary than in years past. Business owners, career experts, and Gen Z members have also noticed this trend.
In Case You Missed It
What Happens to Student Loans if the U.S. Department of Education is Eliminated?
Massive Layoffs May Have Big Impact at the Office of Federal Student Aid
U.S. Department of Education Office Closure and Layoffs
Executive Order Limiting Public Service Loan Forgiveness (PSLF)