Student Loan Update as Trump Set to Order Department of Education Shutdown

President Donald Trump is set to sign an executive order on Thursday directing the shutdown of the U.S. Education Department, fulfilling a campaign pledge to eliminate the agency, which has long been a conservative target.

Federal student loan payments, federal funding for students with disabilities under the Individuals with Disabilities Education Act (IDEA) and Title I funding for low-income schools will remain unchanged under the order, according to reports.

However, Education Secretary Linda McMahon is developing a plan to "bring these funds closer to states, localities, and more importantly, students," a White House official told USA Today.