A group of student loan borrowers far behind on their federal debt are about to be funneled into a new collection program largely run by the Treasury Department—the latest action by a Trump administration determined to break up the Education Department.
The two agencies plan to launch the first step of their program to service loans in default in July, starting with about 500,000 borrowers, according to two people familiar with the matter.
A Treasury spokesperson disputed the figure, but did not provide a number for how many borrowers it planned to put in the program.
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