The Treasury Department will take over the management of student loans whose borrowers are in default, according to a new agreement announced Thursday. The U.S. Education Department's handing off these student loans is the next step in President Donald Trump's plans to dismantle the federal education agency.
The 17-page agreement outlines a stunning realignment of the nation’s federal student loan programs, which have been overseen by the Education Department for more than 40 years.
