President donald trump announced that the small business administration will now handle federal student loans, replacing the department of education, raising concerns among consumer advocates regarding potential risks and protections for borrowers.

President donald trump announced the transfer of student loans management to the small business administration.

SBA will handle the federal student loan portfolio instead of the department of education.

The department of education is being replaced in handling student loans by the SBA.

Defense Secretary pete hegseth was present during Trump's remarks.

Higher education expert who commented on the agencies' experiences regarding loan management.