The U.S. Department of Education, led by Secretary Betsy DeVos, is offering buyouts. (Mike Blake/Reuters)The U.S. Department of Education on Friday informed staff in the Office of Federal Student Aid, the arm of the agency that handles grants and loans to college students, that buyouts are being offered to shrink the division. In a memo obtained by The Washington Post, the department said it received approval from the Office of Personnel Management to offer early retirement and voluntary separation incentive payments. Voluntary early retirement, on the other hand, does not include a lump sum payment and allows federal employees to retire before they reach a certain age and years of service. Those who opt for early retirement or a buyout will be out the door before the first week of the new year is over.

Source: Washington Post October 27, 2017 22:40 UTC