EDUCATION AND TREASURY DEPARTMENTS MOVE EMPLOYEES AS PART OF STUDENT LOAN PROGRAM SHIFT
The Education and Treasury Departments are detailing staff between agencies as part of the administration’s ongoing effort to transfer management of the federal student loan portfolio. Under a recent agreement, several Department of Education employees will be assigned to Treasury, with a smaller number of Treasury staff detailed to Education, initially focusing on transitioning the defaulted loan portfolio. According to POLITICO Pro, officials described the move as an early operational step in shifting responsibility for the approximately $1.7 trillion student loan system. Additional phases of the transfer are expected as the agencies continue coordinating the transition.