Student loan impact if Education Department closes
If the Department of Education were to be eliminated, existing federal student loans would not automatically disappear, as they are backed by laws passed by Congress. Borrowers would still be responsible for repayment, and any transfer of responsibilities to other federal agencies would likely maintain current repayment plans and borrower protections. The legal obligation to repay student loans would remain unless Congress enacts new legislation to forgive or cancel the debt.
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