What Trump's Promise to Abolish the Department of Education Means For SoFi

By MarketWatch | Nov 7, 2024 at 04:27 PM EST

President-elect Donald Trump and Republicans aim to abolish the U.S. Department of Education and reduce federal involvement in student loans. With GOP control of Congress, this change may benefit private lenders like SoFi Technologies, who currently hold less than 10% of the student loan market.

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