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Treasury Department Takes Over Student Loan Collections From Dept Of Education
The Department of Education and the U.S. Treasury Department announced a new interagency agreement on March 19, 2026, that will shift operational control of defaulted federal student loan collections from Education to Treasury. This comes as nearly 7.7 million student loan borrowers holding $180 billion in student loans are in default.
The move, which the administration has branded the “Federal Student Assistance Partnership,” marks a big step forward in dismantling the Education Department in what officials described as the equivalent of the “fifth-largest commercial bank in the United…
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