Trump Seeks SBA Takeover of Student Loans: What Borrowers Should Know
Recently, President Donald Trump announced his intention to promptly transfer the nation’s $1.6 trillion student loan portfolio to the Small Business Administration. Specialists challenged the president’s power to undertake such an action, and groups representing consumers expressed concerns about possible repercussions. Meanwhile, borrowers have several actions they can undertake to safeguard themselves. President Donald Trump stated last week that federal student loans would " immediately It will be transferred from the U.S. Department of Education and will come under the management of the Small Business Administration. "They will receive far superior service compared to what they got in the past," Trump said. said It has been quite chaotic. Consumer advocates voiced apprehensions that transferring numerous accounts to the SBA might lead to mistakes or jeopardize borrowers’ privacy. They also brought up issues regarding potential ...