The Department of Education told Sen. Elizabeth Warren and the public it is still exploring proposals to sell parts or all of the federal student‑loan portfolio, a pool that tops $1 trillion. Undersecretary Nicholas Kent said the agency has met with a range of stakeholders since the administration took office but has not made any final decisions. The disclosure formalizes conversations that would represent a major restructuring of federal student finance: selling loans could shift servicing, borrower protections, and risk to private firms. Advocates warn privatization could reduce oversight and raise costs for borrowers; supporters argue it could transfer taxpayer risk and create new management options for the portfolio.