ISAC Issues Letter to U.S. Department of Education Secretary McMahon Regarding Potential Delays in Student Financial Aid and Student Loan Challenges
CHICAGO – Today, the Illinois Student Assistance Commission (ISAC) sent a letter to Secretary of Education Linda McMahon expressing alarm about potential delays to the timely delivery of critical student financial aid caused by the Trump Administration’s dismantling of the U.S. Department of Education (ED). The letter also conveys deep concerns about the potential risks to student loan borrowers if the $1.6 trillion student loan portfolio is moved to the U.S. Small Business Administration (SBA). The letter shares concerns about significant cuts in staffing at ED that can put in peril not only students’ ability to access financial aid, but also the timely disbursement of that aid to students and institutions that rely on it. Indeed, recent news reports indicate that calls and emails to ED are going unanswered and systems to disburse grants and loans are experiencing more frequent outages. The letter also flags risks to borrowers of the President’s plan t