Student Loans Are Moving from the Department of Education to Treasury

Andrew Gillen

Student loans are moving from the Department of Education to the Department of the Treasury, which is great news. 

To begin with, taxpayers can expect significant savings from the move. The Department of Education consistently underestimated the cost of loans, to the tune of $311 billion over a 25-year period (estimating profits of $114 billion but incurring losses of $197 billion). Treasury has a much better track record in predicting costs and revenues, which...