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Trump's plan to transfer millions of student-loan accounts to the Treasury is in the works, officials confirm

Business Insider·Ayelet Sheffey·about 1 month ago
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The Treasury Department is beginning the process of taking over millions of federal student-loan accounts. Aaron Schwartz/CNP/Bloomberg via Getty Images The Treasury has started the process of taking over defaulted student-loan borrowers' accounts. It said Education Department employees will be sent to the Treasury to help with the transition. The agency did not provide a timeline for when it will officially assume management over the accounts. The Trump administration is beginning a complicated process of transferring millions of student-loan borrowers to a new agency. The Treasury Department confirmed in an April letter to Sen. Elizabeth Warren — released on Monday — that it has started preparations to take over the Department of Education's 9 million defaulted student-loan accounts.…

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