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| The End Is Nigh for the Department of Education |
| 2026-03-20 |
| [Daily Signal] Bad news: Tax Day is just one month away. But the U.S. Department of Treasury just announced a rare gift for taxpayers: A dose of sanity on college loans. Today, the U.S. Department of Education and the Treasury Department signed an agreement that helps wind down the education agency, moves more responsibilities over college loans to Treasury, and simplifies the college lending process. This is the 10th interagency agreement between the Education Department and other federal agencies. These agreements follow the White House executive order issued one year ago this week, calling for the end of the Education Department. And this is a big one. Student loans make up two-thirds of the Education Department’s budget, and just under half—40%—of borrowers are not making any payments on their loans. Student loan debt has ballooned to $1.7 trillion and affects more than 42.8 million student borrowers. For decades, the Treasury Department has worked with the Education Department to collect on defaulted student loans. Treasury also handles general debt collections through the IRS, all of which makes this agreement a logical move for student loans. And the announcement continues to build on the department’s promise to streamline federal education functions and cut red tape. The move comes after years of instability in federal student loan policy. In 2023, President Joe Biden’s administration attempted to transfer up to $20,000 per student in outstanding debt from students to taxpayers, a plan the Supreme Court ultimately struck down as unlawful. |
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| Posted by: Omans Slath8956 2026-03-20 23:28 |
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