KEY TAKEAWAYS As part of President Donald Trump’s order to close the Department of Education, he said student loans will be transferred to the Small Business Administration.Eliminating the DEO or shifting its responsibilities would require an act from Congress.

Key Points ・President Trump said he wants to move the federal student loan system to the Small Business Administration, but no executive order has been signed. ・Experts say such a move would likely require an act of Congress and could breach existing borrower contracts,