Since taking office, the Trump administration has pledged to eliminate the U.S. Department of Education. Yet a year into his tenure, the president has made only slow progress toward that goal, trimming agency personnel around the edges but failing to take a hammer to the agency.
There is one promising reform, however, that would indicate real movement toward the goal: reallocating the Department of Education’s student loan portfolio to the Department of the Treasury. The student loan portfolio is the biggest responsibility of the Federal Student Aid office, which is the department’s largest unit by both staff and budget. Moving the program to Treasury would therefore significantly shrink the size and scope of the Department of Education. Moreover, both borrowers and taxpayers would benefit from this move.
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