Although SBA managed a wealth of Covid relief programs, it normally runs a much smaller operation than student debt.

KEY TAKEAWAYS As part of President Donald Trump’s order to close the Department of Education, he said student loans will be transferred to the Small Business Administration.Eliminating the DEO or shifting its responsibilities would require an act from Congress.

The administration, which wants to close the Education Department, hasn’t said how it would move the $1.7 trillion portfolio to a new agency. Democrats say doing so would be a “clear violation” of the law.