Education Secretary Linda McMahon said FridayAs far as I can tell, there is absolutely no reason why there should be student loans housed in the Department of Education. ”
McMahon, who has been tasked with hoisting the Department of Education by President Donald Trump, discussed the possibility of moving student loans to the Treasury department or returning to the private sector. Breitbart News Daily. The interview comes a day after Trump signed an executive order calling for the dismantling of the Department of Education.
Host Mike Slater asked McMahon if anyone claimed that federal involvement in student loans led to a significant increase in tuition fees, asking, “What happens if you just eliminate student loans and move on?”
“Is there any argument that in the future it might just eliminate federally supported student loans?” he asked.
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“Well, certainly, I think we have to see that. I had some preliminary conversations with Secretary Bescent at the Treasury, and I have no reason at all as long as I can tell there should be student loans housed in the Department of Education, which came under President Obama.
“Yes, I think there's a benefit to bringing it back into the private sector, but we need to deal with it. Student loan debt is $1.6 trillion left over. Almost half of the current Department of Education budget is oversight of its student loan program, and it's clearly been banged,” she continued.
“And as you said, a student borrowing money, the university gives the student the price of the attendees, [and] Students can borrow anything that the university says is attendance fee. So, for $70,000, $90,000, or $100,000, a student can borrow that much, but a student may not know that he can graduate from that university with a degree in philosophy or archaeology and cannot do the job of paying off that loan,” she said.
McMahon also mentioned the idea of studying and modifying university applications and modernizing the free application of Federal Student Aid (FAFSA) to provide more information to students and parents before borrowing money.
“This loan is too expensive for this type of major and you can't earn a sustained income to pay off the loan,” McMahon said.
“But they [ideas] We are discussing that there is more AI and technology involved,” she added.
Overall, she said, “I hope that it will be revised to the private sector student loan program or perhaps taken over by the Treasury Department.”
“That's not a natural conclusion, but it certainly makes sense to inform universities and universities that this loan is no longer available, which will help reduce costs for universities and universities,” she said.
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Katherine Hamilton is a political reporter for Breitbart News. You can follow her on x @thekat_hamilton.
