What Happens to Your Student Loans if Trump Closes the Department of Education?

The Department of Education still exists so far this week, but multiple signs point toward its demise. The Wall Street Journal reported that President Donald Trump drafted an executive order instructing Education Secretary Linda McMahon to "take all necessary steps to facilitate the closure of the Education Department" as permitted by law. This action seemed poised to go live on Thursday, until the White House disputed that the move would happen that day in a social media post. McMahon said the management of federal student loans and Pell Grants could be reassigned "if the Department of Education, you know, does not exist" during an interview last week with NewsNation Live. At her confirmation hearing last month, McMahon said that shutting down the department would require an act of Congress. But she issued a statement last week telling the department that they've been tasked with "the elimination of bureaucratic bloat here at the Department of Education -- a momentous final mission ... Read full article.