GAO investigating student loan transfers to Treasury Dept., Warren says

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Elizabeth Warren, D-Mass., has triggered an investigation into the Trump administration's transfer of student loan services to the Department of the Treasury, according to a Government Accountability Office (GAO) letter sent to the senator. In the letter, first reviewed by ABC News, the nonpartisan congressional watchdog said it intends to extend its probes into the Education Department's interagency agreements -- adding to an existing investigation of the Education and Labor departments' partnership. "The Trump administration is hurting students, families, and teachers by ripping important programs out of the Education Department and shipping them off to agencies with no expertise," Warren told ABC News on Wednesday. "This independent investigation is a major step forward in our work to protect students and save our schools," she said. In this April 22, 2026, file photo, Sen. Elizabeth Warren speaks during an event in Washington, D.C.Brian Stukes/Getty Images, FILEThe GAO works to provide timely, fact-based, nonpartisan information that can be used to improve government, per the agency's website. The watchdog's new action follows calls from Warren and Sen. Bernie Sanders, I-Vt., for the GAO to conduct a comprehensive investigation into what they say is the Education Department "illegally" winding down its functions and transferring statutory offices to other agencies. The GAO investigation into the education department's recent agreement with Treasury that moved the student loan portfolio could have a major impact on defaulted borrowers -- the millions of Americans who have haven't paid their debts for at least nine months or 270 days. When a student loan officially enters default, it becomes eligible for mandatory collections which can negatively impact credit scores and social security benefits. GAO said it plans to start work reviewing the transference of student loan default collections from Education to the Department of the Treasury this summer, according to the letter. The lawmakers have alleged that the agency partnerships add unnecessary red tape and administrative inefficiencies. The education department’s agreements with the Department of Labor have also caused delays in administering adult education, family literacy and career and technical education (CTE) programs, according to the senators. However, a Labor Department spokeswoman argued that the department's agreements with the Department of Education are "resulting in more efficient delivery of funded programs and alignment of workforce and industry needs." Meanwhile, the Education Department announced in March that it was sending the nation's nearly $1.7 trillion student loan portfolio to Treasury because the government's loan procurement services needed a "hard reset." Ellen Keast, the Department of Education press secretary for higher education, told ABC News, "We are confident that our partnership with the Treasury, an experienced and proven fiduciary, will strengthen program administration and better serve American students, borrowers, and taxpayers." In this June 24, 2022, file photo, the Department of Education building is shown in Washington, D.C.STOCK IMAGE/Getty ImagesThe White House Press Office said in a statement to ABC News, “President Trump promised to dismantle the federal education bureaucracy and return education back to the states where it belongs. "By leveraging Treasury’s renowned financial expertise, the Trump Administration is confident that American students, borrowers, and taxpayers will benefit from more effective programs after decades of mismanagement,” the statement said. This is the latest step in Warren's Save Our Schools campaign against President Donald Trump and Education Secretary Linda McMahon's mission to abolish the Education Department. For more than a year, Warren's campaign has used a combination of federal investigations, oversight, storytelling and even lawsuits to provide the administration with so-called checks and balances. In April, Warren petitioned for Education to stop its transfer of federal student aid services to Treasury, hoping to halt the dismantling of the agency. Interagency agreements are a frequently used tool that the Education Department has engaged with other partner agencies more than 200 times to procure various services of other partner agencies over the years, according to a senior Education Department official. McMahon, who was chosen to dissolve the department using all necessary steps permitted by law, claims she is using her broad authority to put herself out of a job. 24/7 coverage of breaking news and live events Sen. Elizabeth Warren, D-Mass., has triggered an investigation into the Trump administration's transfer of student loan services to the Department of the Treasury, according to a Government Accountability Office (GAO) letter sent to the senator. In the letter, first reviewed by ABC News, the nonpartisan congressional watchdog said it intends to extend its probes into the Education Department's interagency agreements -- adding to an existing investigation of the Education and Labor departments' partnership. \"The Trump administration is hurting students, families, and teachers by ripping important programs out of the Education Department and shipping them off to agencies with no expertise,\" Warren told ABC News on Wednesday. \"This independent investigation is a major step forward in our work to protect students and save our schools,\" she said. The GAO works to provide timely, fact-based, nonpartisan information that can be used to improve government, per the agency's website. The watchdog's new action follows calls from Warren and Sen. Bernie Sanders, I-Vt., for the GAO to conduct a comprehensive investigation into what they say is the Education Department \"illegally\" winding down its functions and transferring statutory offices to other agencies. The GAO investigation into the education department's recent agreement with Treasury that moved the student loan portfolio could have a major impact on defaulted borrowers -- the millions of Americans who have haven't paid their debts for at least nine months or 270 days. When a student loan officially enters default, it becomes eligible for mandatory collections which can negatively impact credit scores and social security benefits. GAO said it plans to start work reviewing the transference of student loan default collections from Education to the Department of the Treasury this summer, according to the letter. The lawmakers have alleged that the agency partnerships add unnecessary red tape and administrative inefficiencies. The education department’s agreements with the Department of Labor have also caused delays in administering adult education, family literacy and career and technical education (CTE) programs, according to the senators. However, a Labor Department spokeswoman argued that the department's agreements with the Department of Education are \"resulting in more efficient delivery of funded programs and alignment of workforce and industry needs.\" Meanwhile, the Education Department announced in March that it was sending the nation's nearly $1.7 trillion student loan portfolio to Treasury because the government's loan procurement services needed a \"hard reset.\" Ellen Keast, the Department of Education press secretary for higher education, told ABC News, \"We are confident that our partnership with the Treasury, an experienced and proven fiduciary, will strengthen program administration and better serve American students, borrowers, and taxpayers.\" The White House Press Office said in a statement to ABC News, “President Trump promised to dismantle the federal education bureaucracy and return education back to the states where it belongs. \"By leveraging Treasury’s renowned financial expertise, the Trump Administration is confident that American students, borrowers, and taxpayers will benefit from more effective programs after decades of mismanagement,” the statement said. This is the latest step in Warren's Save Our Schools campaign against President Donald Trump and Education Secretary Linda McMahon's mission to abolish the Education Department. For more than a year, Warren's campaign has used a combination of federal investigations, oversight, storytelling and even lawsuits to provide the administration with so-called checks and balances. In April, Warren petitioned for Education to stop its transfer of federal student aid services to Treasury, hoping to halt the dismantling of the agency. Interagency agreements are a frequently used tool that the Education Department has engaged with other partner agencies more than 200 times to procure various services of other partner agencies over the years, according to a senior Education Department official. McMahon, who was chosen to dissolve the department using all necessary steps permitted by law, claims she is using her broad authority to put herself out of a job.