Treasury Launches Student Loan Records System With Education Dept
Published Date: 10/7/2026
Notice
Summary
The Department of the Treasury is setting up a new system to handle records about federal student aid, working closely with the Department of Education. This system will help track and manage student loans and grants to make sure everything is running smoothly and by the rules. People who get federal student aid might be affected, and the system starts right away with a chance to comment by November 6, 2026.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 1 costs, 2 mixed.
Treasury will receive your student-aid records
Treasury will receive personally identifiable information (PII) about recipients of federal student aid under Title IV from Department of Education systems including the National Student Loan Data System (NSLDS), Default Management Collection System (DMCS), and Enterprise Data Management & Analytics Platform Services (EDMAPS) to support Treasury research, oversight, reporting, and compliance. This new system is effective upon publication (October 7, 2026) and is subject to an interagency agreement with Education.
Records can be used for debt-collection disclosures
Treasury may disclose Education-originated records to consumer reporting agencies, financial institutions, employers, private collection agencies, or other debt-collection participants only through, or at the direction of, the Bureau of the Fiscal Service and only to the extent necessary for legally authorized debt-collection activities covered by Treasury/Fiscal Service SORNs. This routine use becomes effective 30 days after publication on November 6, 2026 unless changed.
Treasury may share records with oversight, contractors, and for breaches
Treasury may disclose records from this system to DOJ for litigation, to Department of Education for administering the interagency agreement, to OMB/GAO/Congress and other oversight entities for oversight and audits, to contractors performing work for Treasury (subject to written limitations), and to other agencies to respond to or prevent a suspected or confirmed breach.
You can request access or correction to records
Individuals may request notification of, access to, or correction of records in this Treasury system under the Privacy Act and FOIA. Requests must be written, signed and either notarized or submitted under 28 U.S.C. 1746, and sent to Treasury's FOIA/Privacy offices; fee categories, inspection/copy options, and fee waiver requests follow FOIA rules.
Limits on retention and required destruction timing
Education-originated PII provided to Treasury must be destroyed when the authorized purpose is complete, but no later than the expiration date of the applicable interagency agreement or executed extension; Treasury must notify Education in writing within 30 days after destruction. If the agreement is terminated, Treasury will take steps within 30 days to dispose of Education data, subject to lawful holds.
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