Billions pour into Education Department as student loans restart

On Sept. 1, the Education Department recorded a deposit of more than $1 billion — the agency’s largest, single-day inflow of cash since 2009.

Billions of dollars of payments are flooding into the Education Department as the agency begins turning on the federal student loan system that’s largely been frozen since March 2020.shows a huge spike in the Education Department’s daily deposits of operating cash to the Treasury General Fund over the past several weeks.

— The Education Department’s large influx of cash, which began in the second half of August, was unusual compared to similar periods

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