Could borrowers see their debts wiped out if the DOE is shuttered, or would their loans be under new management?

The Trump administration is gearing up for large changes to the Department of Education, which oversees a $1.6 trillion portfolio of student loans.

The Trump administration has promised to eliminate the Department of Education, shifting more responsibility back to the states. States already have significant control over education — particularly when it comes to setting standards and deciding on curriculum, but eliminating the department would have major repercussions for college students.