Sen. Elizabeth Warren is attempting to stop the reported selloff of the $1.6 trillion student loan portfolio to private companies.

Sen. Elizabeth Warren warned that selling off student loan to private companies would be a "tremendous mistake."

More than 40 Democratic lawmakers are highlighting and trying to prevent reported Trump administration plans to sell the government’s student loan portfolio to the private market.

The Department of Education concluded its negotiations on Trump's student-loan repayment overhaul, with big implications for federal borrowers.

Since President Donald Trump took office in January 2025, sweeping changes have been made to federal student debt relief programs.

But in the letter, Democrats say they’ve received reports from borrowers who suddenly had their tax refunds offset. It appears, they say, the Trump administration is assuming an offset notice sent years ago, such as before the pandemic-era freeze on collections, is sufficient enough to begin collection activity.