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Trump Plans to Move Student Loan Portfolio to SBA. Here’s What Borrowers Need to Know
The Trump administration is moving forward with the idea to transfer the government’s $1.6 trillion student loan portfolio to another government agency.
President Donald Trump said Friday that management of federal student loans would move from the Education Department to the Small Business Authority, or SBA, “immediately.” It’s likely the move will face legal pushback.
The announcement comes after a chaotic period at the Education Department, which oversees student loan repayment for more than 40 million borrowers. On Thursday, the White House issued an executive order aimed at dismantling the department, and last week the department announced layoffs that will cut the agency’s staff in half.
Higher education groups and student advocates had already expressed deep concerns about the plan for redistributing the Education Department’s responsibilities before Trump made his comments about transferring the student loan portfolio — which was a departure from what White House Press Secretary Karoline Leavitt said less than 24 hours prior.
Jessica Thompson, senior vice president of The Institute of College Access & Success, said in a statement Friday that the administration has “decimated staffing and oversight capabilities” at both the Education Department and Small Business Authority and has “no clear strategy.”
“This can only result in borrowers experiencing erratic and inconsistent management of their federal student loans. Errors will prove costly to borrowers and ultimately, to taxpayers,” she said.
There’s still a lot we don’t know about what could happen, but it’s important for borrowers to remember that even if a the portfolio is transferred, the terms and interest rates on their loans will not be changing. The most important thing borrowers can do right now is keep detailed records. Here’s what else we do (and don’t) know:
When will student loans be moved from the Education Department?
That’s not clear right now. In speaking to reporters Friday, Trump said it would happen “immediately.” But legal challenges could pause any possible changes.
“I know he said immediate but nothing is going to be immediate,” says Betsy Mayotte, president of The Institute of Student Loan Advisors, which offers free advice to borrowers on paying back their loans.
The White House hasn’t provided any details about how such a transition would work, including whether staffers at the Education Department who have knowledge of the student loan system would move to the SBA to continue working on it.
In its executive order, the administration suggested that the Education Department, and in particular the Federal Student Aid office, was too small to manage such a large portfolio. It noted that the size of the student loan portfolio is roughly the size of some of the nation’s largest banks — although the office has a far smaller staff than those banks do.
But the SBA is also a relatively small agency. It currently has a staff of about 6,500, and it announced Friday morning that it would cut its workforce by 43%.
Do I still need to keep paying my loans?
Yes — transferring the loans to another agency does not equate to canceling them.
“I can’t emphasize enough that this is not the time to be making any panicked financial decisions,” Mayotte says.
To whom do I pay my loans?
You should continue making payments to your servicer until you hear differently.
Most of the work on managing repayment is done by loan servicers and third-party vendors, not the department itself. It’s possible that even if a move to the SBA happens, borrowers will still deal with the same servicers and databases and that the day-to-day experience won’t change, Mayotte says.
What does this mean for income-driven repayment and Public Service Loan Forgiveness?
Income-driven repayment plans and Public Service Loan Forgiveness, or PSLF, are written into law. That doesn’t mean there will not be changes to those programs — Trump has already messaged with a previous executive order that he’d like to limit the jobs that qualify for PSLF , and the Education Department has paused all applications to income-driven plans in response to a court injunction.
It’s likely borrowers will see changes to these programs coming down the line. But the possible shift of the portfolio to SBA, on its own, does not affect them.
What else should I know or do right now?
Log into your servicer account and into your account with Federal Student Aid to document what you owe and where you are in your repayments.
Assuming Trump is able to follow through and the loan portfolio is in fact transferred to the SBA, you should remain vigilant throughout the period of transition. Take a screenshot of every payment you make, and download documents that track your payment history. It’s a good idea for all borrowers to take these steps, but it’s especially critical for those who are working toward forgiveness via income-driven repayment or PSLF.
Sarah Sattelmeyer, the project director for education, opportunity and mobility on the higher education team at New America said in an email Friday that she has a lot of unanswered questions. But at a minimum, “a move of this magnitude will be extremely messy and inefficient for everyone — including borrowers who depend on loan relief, contractors who administer the programs and staff who manage the programs and provide oversight — and runs the risk of breaking the system in the process.”
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From Professional to Personal: The Unexpected Joy of Workplace Friendship
“Chance made us colleagues. Fun and laughter made us friends.” ~Unknown
A year into my new job, I realized that the hardest part wasn’t the complexity of the work—it was the culture. The office felt like a maze of silos, each person isolated in their corner. The hierarchy was more than just a structure—it was something everyone was constantly reminded of. I was used to navigating high-pressure, competitive environments, but this one was different.
As a woman in STEM, I had learned early on to keep my personal life separate from my work life. This boundary helped me maintain control, protect my privacy, and avoid becoming the subject of office gossip. It worked for years. But the longer I stayed, the more I felt the weight of that separation. I was increasingly feeling isolated, even in a room full of colleagues.
For years, I had adhered to the motto: I’m here to do a job, not make friends. I thought I was maintaining professionalism. But here’s the truth: What happens when you spend so much of your waking life in a place that doesn’t let you connect? How can you keep thriving if you aren’t allowed to be fully human, to engage in real, meaningful relationships?
The paradoxes of modern work culture are everywhere:
- “Create your own destiny”—but also “Surrender to the universe.”
- “Work smarter, not harder”—but “Success comes from hustle.”
- “Don’t tie your identity to your job”—yet when you meet someone, the first question is, “What do you do?”
- “Collaboration is key”—but everyone is really looking out for themselves.
These contradictions left me feeling more lonely than fulfilled. The boundaries I had set to protect myself had instead built walls, ones that made me feel increasingly disconnected. It took me a while to even notice how long I was working, or how late I was staying just to “prove” I was worthy of the job. The high turnover rate was a sign that others weren’t faring much better.
Breaking Down Walls, One Connection at a Time
But then something unexpected happened. A colleague, stationed right next to me, began to shift everything. She had this unshakable warmth about her. She had big brown eyes and a smile that lit up the room, and more than that—she cared.
She asked how I was doing, and it wasn’t just casual small talk. It felt real. Unlike many others in the office, she didn’t need to remind anyone of her place in the hierarchy. It was a breath of fresh air. In her presence, I felt seen. Not just as an employee, but as a person.
For the first time, I realized I had been isolating myself, not just from my colleagues, but from the very kind of connection that could make work feel less like a grind and more like a community. Letting her in was a major shift for me, one I didn’t fully appreciate at the time. But in hindsight, I see that her presence became a lifeline—one that helped me reframe what work could really be about.
Over the course of my career, I’d met incredible colleagues—mentors, references, even leaders who helped propel my career forward. But none of them had ever become true friends. She, however, became a friend in the truest sense of the word. She listened without judgment, understood without needing to fix, and was a presence that made the office feel less lonely. We remained friends even after I moved on to my dream job.
And here’s what I’ve come to realize: it’s absurd that we spend so much of our time at work, yet we often avoid forming meaningful, lasting friendships with the people we work alongside. It’s as if we’re all conditioned to believe that work is a place to be productive and professional, and friendship is something that exists elsewhere, in other spaces.
It’s a lie.
Work doesn’t have to be a place of isolation. It can—and should—be a place where we bring our full selves, where connection and kindness are valued as much as competence and productivity. I still value privacy. Not every coworker is a safe space. But the idea that friendships cannot begin in the workplace? That’s the real myth.
Here’s the truth: We all deserve to feel connected, supported, and seen, especially in the places where we spend so much of our time. So, why not break the mold? We don’t have to throw away professional expectations, but we can create new rules—ones that make room for authenticity, kindness, and connection.
Let’s rewrite the narrative of what work can be. Yes, we must adhere to boundaries and professionalism, but let’s remember that humanity is not a weakness—it’s our greatest strength.
Practical Tips for Making Meaningful Friendships in the Workplace
Clarity on Personal Values and Needs
For any friendship to form—whether at work or beyond—it’s essential to understand what we value and need in a meaningful connection. True friendships aren’t just about proximity or convenience; they are about aligning with people who share our core values and support our growth.
Through my own experiences, I’ve realized that I deeply respect and connect with people who have strong morals and live by their benevolent principles. I gravitate toward those who are humble and grounded enough to challenge their own beliefs in moments of conflict but who also stand firm against injustice when it truly matters. It took me years to recognize just how much I needed this type of person in my life.
To cultivate meaningful friendships, we must first ask ourselves: What makes a friendship truly fulfilling for me? When we are clear on our own values and needs, the effort required to build those connections feels worthwhile.
Reflecting on past and present friendships can reveal patterns—what has worked, what hasn’t, and what truly matters to us. While this type of reflection is often encouraged for romantic relationships, it’s just as valuable for friendships. When we understand who we are, what we need, and who complements our strengths and weaknesses, we can pursue connections that genuinely enrich our lives.
This introspection may be the hardest part—but once we have clarity, the rest becomes much easier.
Maintain Healthy Boundaries
Building friendships at work doesn’t mean oversharing or blurring professional lines. It’s about fostering trust, mutual respect, and human connection—without pressure to disclose every detail of our personal lives. Meaningful workplace friendships can grow even while maintaining privacy.
It’s also important to recognize that not every colleague will be open to deep friendships, and that’s okay. Focus on organic connections rather than forcing relationships that don’t naturally align.
Trust Your Intuition
You likely already have a sense of your coworkers’ personalities—whether through morning greetings, meetings, team events, or casual conversations. Pay attention to the people who make you feel at ease, who you enjoy speaking with, and around whom you feel most like yourself.
Trust your instincts about who feels warm and safe. Meaningful connections often start with a simple gut feeling.
Break the Ice with Small but Genuine Gestures
If no one has approached you first, take the initiative. Start small:
- Ask a coworker to grab a coffee with you.
- Chat about shared experiences—projects, books, hobbies, weekend plans.
- Accept invitations when they come your way. I’ve turned down coffee and lunch invites in the past, overwhelmed by my workload—only to realize later how much I had missed out on. If possible, say yes.
Pay Attention, Get Creative, and Have Fun
Sometimes, the smallest moments create the deepest connections.
At one of my workplaces, there was an auction where one of the prizes included two tickets to a Harry Potter play at a local theater. I discovered that a coworker shared my love for Harry Potter and the theater, so I suggested we buy our own tickets and go together. We were both ecstatic—and it became a memory that strengthened our friendship.
If you enjoy deeper conversations, suggest an after-work drink following a major project. This keeps the gathering work-related but also allows space for connection and shared recovery from stress.
When planning activities, don’t hesitate to suggest things that excite you. Passion is contagious—when you light up about something, others feel it too.
What You Seek is Seeking You
If you’re searching for meaningful connections, trust that others are looking for the same. There is no one-sided win—friendship is always a mutual gift.
Meaningful relationships, even in a professional setting, have the power to bring joy, support, and belonging. And in a world where we spend most of our waking hours at work, that kind of connection can be life-changing.
About Kate Pejman
Kate Pejman is an engineer, climate change advocate, and the creator of The Benevolent Series. Through candid interviews and personal stories, she explores life at the intersection of authenticity, relationships, and freedom—examining both what we lose and what we gain in the process. You can find her at www.thebenevolentseries.com. You can find her on Instagram here.
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The Enduring Parisian Charm of Le Meurice Hotel
For nearly two centuries, Le Meurice has epitomised Parisian luxury, drawing royalty, artists and discerning travellers into its world of refined splendour. Nestled between the Louvre and Place de la Concorde, this legendary palace hotel blends 18th-century grandeur with contemporary artistry, all while upholding the highest standards of service. Deputy general manager Christophe Chopineau offers a glimpse into the hotel’s unique character, from its ties to Salvador Dalí to its Michelin-starred dining experiences and commitment to sustainability.
Tell us briefly about the history and specific DNA of Le Meurice?
Le Meurice is strategically located opposite the Tuileries Gardens and has held its sway as one of the first Parisian luxury hotels dating back to 1835. Reflecting its uninterrupted attachment to the French art of living, Le Meurice is a magical, serene and elegant place, where the refined splendours of 18th-century architecture meet the design of Philippe Starck and Charles Jouffre, the French artisan-designer who created the sumptuous drapes and hangings of the Grand Foyer at the Opéra Garnier. It is also where Alain Ducasse, the most Michelin starred Chef in the world, celebrates the seasons with his culinary creations. His heavenly cuisine elevates Parisian gastronomy to the rank of art. He brings past and present together with flavour and flair. As for Cédric Grolet, elected the world’s best Pastry Chef in 2018, the lines in front of his shop within the hotel speak for themselves!
In the heart of Paris, a minute’s walk away from Place Vendôme and Rue Saint-Honoré, where luxury stores and boutiques showcasing young designers flourish, Le Meurice gradually unveils its secrets, as a haven of peace where you can truly be yourself.
As the deputy general manager, what is the first thing you notice when you enter a hotel and which details do you pay particular attention to?
This is difficult to explain as it is all about feelings and perception. When entering Le Meurice for example, you immediately feel a sense of belonging. You get like magically attracted by every place and the warm welcome of the people. That’s what it is all about! Each palace has its own story and Le Meurice, which is part of the iconic hotels of Dorchester Collection, has always stood out as the jewel among French palace hotels since 1835. It reflects elegance and stays true to its philosophy of the art of living à la française. It is also the place where you can be yourself, where there are no dictates. Maybe it is because since its creation, it has nurtured intimate links with artists leaving behind wonderful stories, all witness to its legendary extravagance.
How do you maintain consistent service standards at the property?
I would say that our profession is made of passion and transmission, both of which have always been of paramount importance to us. They have undergone a vertiginous evolution in recent years, not only in terms of service excellence, but also in terms of guest experience and staff development thanks to cutting-edge training initiated by Dorchester Collection. Training is consistent throughout your journey with the Collection, internal promotions are frequent and encouraged, and there are several programs tailored for junior staff to help them evolve within the Collection as well as for more senior staff members to allow them to become inspirational leaders and/or ambassadors to the Collection.
Le Meurice is only a short stroll from Le Louvre, which to most visitors is the must-see Paris art institution. Do you have other favourite cultural destinations close by?
The Museum of Decorative Arts (MAD) is right across the street in the northwestern wing of the Louvre. It is the largest museum of decorative arts in continental Europe and its collection is primarily composed of French furniture, tableware, carpets such as those from Aubusson, porcelain such as that by the Manufacture nationale de Sèvres, and many glass pieces by René Lalique, Émile Gallé and many others. It includes numerous works in the Art Nouveau and Art Déco styles and modern examples by designers like Eileen Gray and Charlotte Perriand.
A short 2 minutes’ walk away from the hotel, on place de la Concorde, is the Hôtel de la Marine, the former ministry of the French Navy. The building was entirely renovated between 2015 and 2021 and displays the Al Thani Collection presenting international and inter-cultural works of art from the extraordinary collection of Sheik Hamad bin Abdullah Al Thani, representing civilizations around the world. The building is absolutely stunning and the exhibition art at its finest.
Tell us more about the unique art collection at Le Meurice?
As soon as you enter the lobby, you are in front of “The Kiss”, a monumental artwork by Zoulikha Bouabdellah who was awarded the very first Meurice Award for Contemporary Art in 2008 and which is now part of the hotel’s artistic DNA.
Salvador Dalí is very present of course, the Suite he occupied for at least a month every year still displays some of his original furniture he brought by himself.
In almost every corner of the hotel, you will be discovering smaller or larger artworks and it is a real pleasure sitting in one of our restaurants or in the bar and let your eyes stroll through the room, coming across so many features and spotting some hidden secrets!
What can visitors to Le Meurice expect in terms of dining experiences?
As you know, we are working with Alain Ducasse and I would consider him as a pioneer and visionary. His culture and curiosity allow him to be always ahead of the curve. As a skilled and decisive captain, he federates our teams led by Executive Chef Amaury Bouhours who takes them constantly up to the next level proposing new challenges. His focus is on the product and those who provide it; he always would prefer seasonal culinary experiences to exotic creations and is adept of authentic taste while offering a global experience where every detail counts. Alain Ducasse and Amaury Bouhours aim to defend the culinary French heritage that is similar to the identity of Le Meurice where we strive to combine tradition and modernity.
The dining experience is of course about what is on the plate – and Chef Clémentine Bouchon from Le Dalí masters this art at its finest by sublimating and transforming the best ingredients into tasteful dishes – but also about the ambience. Whereas Le Dalí is the vibrant heart of the hotel and offers the guest a magnificent spectacle of palace life, the gastronomic restaurant elevates the dining experience to another dimension.
Of course, competition in this field is growing constantly in Paris, but I believe we have solid assets to be competitive. Our offers between the fine dining restaurant, the Dalí restaurant, the Bar 228 and the banqueting reflect a great variety allowing to meet every guest’s expectations. Cédric Grolet’s pastry masterpieces are another asset to the hotel and the Michelin Guide obviously plays an important role at Le Meurice, as we have always stood out among the best.
How important is sustainability in your culinary approach and how will you reflect this across the hotel’s dining venues?
At Le Meurice, every outlet – from the Michelin-starred Le Meurice Alain Ducasse to the staff restaurant – focuses on local and seasonal products. This is one of our top ESG priorities: we aim to be proactive in reducing our environmental impact as much as we can. We want to play our part in contributing to decrease noxious emissions.
Whenever we can, we process locally grown products. All of our suppliers are asked to sign our ESG charter to ensure our and their commitment to sustainability and responsible procurement and cultivation. We are also the first Palace hotel to be awarded three stars from the Ecotable label for our gastronomic restaurant, a French distinction for sustainable F&B management of which we are very proud.
How much of a focus has your spa product been?
We are having a strong partnership with Valmont since 2008, culminating in the opening of La Maison Valmont in 2020, the brand’s Parisian flagship retail store. Valmont are pioneers when it comes to continuous cutting edge training for their therapists, be it for innovative treatments such as Hydrafacial technology or the modern lympathic drainage by Renata França.
Our Spa has 4 treatment rooms, 2 of which are double rooms, and all benefiting from natural light.
The hotel has hosted many renowned artists in the past, most famously Salvador Dalí. Were any of the current staff around when he was still a regular?
Unfortunately not. The employees with the highest seniority – nearly 40 years – arrived just after Dalí’s last stay with us. However, when I arrived, there were still some people who had known him. For more than 30 years, he spent a least one month per year at Le Meurice, bringing his own furniture, sometimes his pet, an ocelot called Babou, or even a Harley Davidson motorbike into the living room! He always rented the same Suite, as he heard that King Alfonso XIII of Spain had been there once. In addition, Dalí was a monarchist. His excentricity was somewhat exhausting, but he turned out to be nice and friendly with the staff, even offering them lithographs he produced here. Today the Suite bears his name.
What makes a hotel stay an unforgettable experience?
Le Meurice has an amazing historical background anchored in art and culture. It is true to the 18th century French spirit with no display of style, but with true elegance and chic. It is all about sophisticated details that are skilfully arranged in each of the rooms and suites providing a very authentic environment. When you wake up at Le Meurice, you definitely know you are in Paris!
Ideally located opposite the Tuileries Gardens, between Place de la Concorde and the Louvre, Le Meurice provides a haven of tranquillity to countless important personalities since it opened in 1835. As for the distinguishing characteristics, it is not that much about the hotel’s material features, it is more about the staff!
Le Meurice is part of Dorchester Collection. What kind of value does this bring to the property?
Guests have references and they know in advance that the employees will take care of them, be always available for special requests and make them feel secure. Dorchester Collection focuses on the human dimension with our “We Care” approach, and our leitmotiv is treasured by guests, cherished by employees, celebrated worldwide. That says it all! The special way to create a home away from home for your guests can only consolidate your relationship and enhance loyalty. We have guests who have been coming to Le Meurice for more than 30 years, passing on their passion to their children and grandchildren.
What is your outlook on growth for the property and what is the key focus for the property in 2025?
2024 has been an exceptional year for Paris, the impact of the Olympics was very positive in terms of image (remember the great views of Paris’ iconic landmarks during the sport events!), organisation and security. Many of those who did not travel during the last summer and who saw the beautiful pictures of Paris and its surroundings on TV would now like to catch up their stays. The reopening of Notre Dame in December was another highlight: visits of the rebuilt cathedral are skyrocketing (I was lucky to be able to go and must admit that it is absolutely stunning!). Hence reservations increase steadily and I am confident that this trend will continue throughout the year. At Le Meurice, everyone is prepared and we are looking very much forward to welcoming regular and new guests from all over the world as we have been doing for 190 years!
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