Education Department Struggles to Fulfill Its Duties Without a Significant Bump in Funding

The U.S. Department of Education’s Office of Federal Student Aid has always had big responsibilities relative to its size. Its primary job is overseeing the federal government’s student loan portfolio, a feat it accomplishes with less than one-third of the Education Department’s staff. In fiscal years 2022 and 2023, it cost the government $2 billion per year to run the office. But even starting with that big job, the office’s responsibilities are multiplying, and experts say it doesn’t have the funding it needs to make things run smoothly.