Student loans are another trillion-dollar fraud

As student loan debt nears $1.7 Trillion, it’s clear that @USEdGov was never intended to serve as our nation’s fifth largest bank.

That’s exactly why we are partnering with @USTreasury to restore fiscal sanity and better align student aid programs with students, families and… pic.twitter.com/fUFZANAw0a

— Secretary Linda McMahon (@EDSecMcMahon) March 19, 2026

https://abcnews.com/US/inside-ghost-student-scam-identity-theft-steal-college/story?id=129359506

As of yesterday, outstanding federal student college loans are $1.7 trillion and:

• 60% of debtors have never made one payment

• 25% are in default

https://content.govdelivery.com/accounts/USTREAS/bulletins/40f1dff?reqfrom=share

The Federal Department of Education (DOE) administers the program.

So far this year, another $100 billion in student loans have been processed.

https://content.govdelivery.com/accounts/USTREAS/bulletins/40f1dff?reqfrom=share

Why hasn’t the program been terminated?

Why is no one making an effort to collect the money?

Instead, the Treasury Department, not the Department of Education, issued this joint press release yesterday:

https://content.govdelivery.com/accounts/USTREAS/bulletins/40f1dff?reqfrom=share