Trump's Treasury is taking over millions of student-loan accounts. Obama tried this, and it didn't succeed.
The Treasury Department is expected to soon take over some of the federal student-loan portfolio. Nathan Howard/Bloomberg via Getty Images The Treasury Department is set to begin taking over defaulted student-loan borrowers' accounts. An Obama-era pilot program found the Treasury had low recovery rates on defaulted student loans. Education policy experts said the transfer could complicate borrowers' repayment efforts. The fate of the federal student-loan portfolio is moving to the Treasury Department . That could raise some challenges for borrowers. The Department of Education announced in March that it would be transferring millions of student-loan borrowers' accounts to the Treasury, starting with the accounts of defaulted borrowers. The administration made clear the move is part of its broader goal of dismantling the Department of Education . This isn't the Treasury's first foray into federal student-loan management. In 2015, the Obama administration...
