Student financial assistance

Effective on the date that is 1 year after the date of enactment of this Act, there shall be transferred to the Department of the Treasury the functions, programs, authorities, personnel, assets, and liabilities of the programs and activities of the Department of Education, and the functions and authorities vested in the Secretary of Education, under title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.).