In a statement, #KellyLoeffler said, "As the government's largest guarantor of business loans, the #SBA stands ready to deploy its resources & expertise on behalf of America's #taxpayers & #students."

But those resources are about to take a big hit as well, as the SBA also announced on Friday that it plans to cut its workforce by more than 40%.

[a “break it then say it should be shut down because it’s broken” philosophy]

#Trump said he would move #StudentLoans "out of the Dept of #Education immediately" & that #KellyLoeffler & her staff are "all set for it. They're waiting for it. It'll be serviced much better than it has in the past. It's been a mess."

~8M federal #StudentLoan borrowers are in #legal limbo, not making loan payments, as #Biden-era repayment plans were frozen by a judge for being *potentially* illegal. Borrowers also can't currently enroll in the govt's income-driven repayment plans….

Appearing in the Oval w/ #Defense Secy #PeteHegseth, #Trump said,“I've decided that the #SBA, the Small Business Administration, headed by #KellyLoeffler, a terrific person, will handle all of the student loan portfolio. We have a portfolio that's very large,"Trump said.

[recall #KellyLoeffler was embroiled in an #InsiderTrading investigation during #COVID after Trump repeatedly downplayed the #pandemic she & other #Republicans invested in #PPE that was in high demand after it spread unchecked]