US President Donald Trump has reiterated his plan to shut down the US Education Department immediately. Elon Musk’s team, tasked with reducing government spending, has begun auditing contracts and grant programs, including the federal student loan portfolio.
Six employees from Musk’s Department of Government Efficiency are currently reviewing operations, auditing student loan data, and searching for fraud or waste within the agency. In a recent court filing, it was reported that DOGE (a company associated with Elon Musk) has already directed nearly $900 million in cuts to various government programs.
Source: https://www.bloomberg.com/news/articles/2025-02-13/trump-vows-to-end-education-department-doge-has-already-started