Students concerned about the future of financial aid amid steps to dismantle Department of Education

    LAS VEGAS (KTNV) -- In the wake of President Donald Trump's efforts to get rid of the Department of Education, questions have swirled around how federal student aid–including student loans and grants–might be impacted.

One of those questions was answered Friday, with President Trump announcing the nation's hefty student loan portfolio will be moved to the Small Business Administration (SBA).

Channel 13 spoke to students at the College of Southern Nevada (CSN) on Friday, who said they're worried about the future of their financial aid, and, in turn, their education.

CSN business management student Wendy Tunggal says student loans are a big reason why she's been able to afford college.

"[Loans have] helped a lot," Tunggal said. "I've been able to stay productive and help my future, at least somewhat."

Tunngal says federal student aid's uncertain future could have serious impacts on her future, though.

"It's a bit unnerving," Tunggal said. "Depending on how they plan to change these loans, I might not be able to get my Ph.D. if I want to, or start a business with some decent money."

Sean Myers is 51 years old, and getting ready to study music at CSN.

"This will be my first time in college, as an old baby boomer," he said with a laugh.

Myers says CSN's affordability plays a key role in why he chose to go to school, especially with the help and availability of Pell Grants.

"I feel like it's home–the teachers, the people that work here, " Myers said, referring to CSN. "They reeled me in with the Pell Grant and everything, but you just go with your instinct."

Myers says he's trying to stay hopeful that his Pell Grant will be safe, but, "because everything is uncertain, President Trump, we don't know what he's going to do," he added.

A day after signing an executive order signaling his intent to further dismantle the Department of Education, President Trump said Friday that student loans would be moved to a new home.

"I've decided that the SBA, the Small Business Administration–headed by Kelly Loeffler, who's a terrific person–will handle all of the student loan portfolio," Trump said. "We have a portfolio that's very large, lots of loans."

In fact, more than 40 million people in the U.S. have more than $1.5 trillion in student loans through the federal government.

The SBA handles billions of dollars in different types of loans and grants already—especially in the wake of natural disasters.

Plus, the SBA announced an impending "agency-wide reorganization" on Friday—including reducing its workforce by 43%—so it's not clear exactly how the transition of student loans to its purview will work, or when it'll happen officially.

Through it all, though, local students at CSN say they're trying to stay optimistic.

"I try to keep my head up and think about the good things that are going on in the world," student Wendy Tunggal said.