Key Points ・President Trump said he wants to move the federal student loan system to the Small Business Administration, but no executive order has been signed. ・Experts say such a move would likely require an act of Congress and could breach existing borrower contracts,

President Trump has signed an executive order and said he will begin eliminating the Department of Education. Here's what it means for student loan borrowers.

The Department of Education changes means the Small Business Administration takes over student loans while the Department of Health and Human Services oversees special needs and nutrition programs.