Less Bureaucracy, Better Student Aid Act

This bill proposes moving the management of Federal student loans from the Department of Education to the Department of the Treasury. Under the plan, the Treasury would take over all tasks related to servicing loans, handling collections for defaulted debts, and administering various financial aid programs like Pell Grants and work-study opportunities. The transfer is designed to reduce bureaucracy by centralizing these functions within the Treasury, which already handles tax collection, while ensuring that existing legal processes and pending applications continue without interruption.