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Linda McMahon: “That makes us the fifth largest bank in the United States.”

Featuring: Linda McMahon, Republican | Secretary of the U.S. Department of Education | National

PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26)

Published April 10, 2026 | Video Starts at 14:27

I don't think it's been managed well by the Department of Education. If you think about it, That makes us the fifth largest bank in the United States. And I'm running it. I'm not a banker, nor have any of the other secretaries of states that have been there been bankers. So we need good, strong policy. (14:27–14:32)

CLAIM

Asserts that managing student loans makes the U.S. government the fifth largest bank.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Linda McMahon

“In Harrisburg, only 12% of high school seniors could read with proficiency and only 3% could do math with proficiency.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 01:18-01:39
“According to the NAEP scores, about 30 to 35% of high school seniors can read proficiently.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 01:44-01:54
“According to the NAEP scores, about 30 to 35% of high school seniors can do math proficiently.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 01:44-01:54
“We have spent over $3 trillion for failure [in education].”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 09:21-09:36
“For every dollar that went into the classroom, teachers spent about 47 cents in regulatory compliance [in Tennessee].”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 09:44-10:00
“The Treasury Department [is set] to take over student loans that are...$1.7 trillion at this point in time.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 14:08-14:22
“For every five skilled workers that are retiring, only two are coming back into the workforce.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 16:47-16:54
“By 2030, we'll have a 2.1 million workforce shortage here.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 16:55-17:02
“The skilled workforce is the fastest growing sector of millionaires in the country.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 17:17-17:24
“As of today, I think we're 32 states now, so we just keep checking them off.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 00:32-00:39
“The education of a freedom tax provision doesn't cost taxpayers one nickel.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 04:07-04:13
“It is the first national opportunity for school choice around the country.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 04:12-04:18
“Individuals can deduct up to $1700 on their federal tax return dollar for $1700.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 04:18-04:46
“This is all private money that's going to go into the states, into the education program.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 05:42-05:48
“We were there to encourage Governor Shapiro to opt into this program.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 05:59-06:05
“The Department of Education was established in 1980.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 07:54-07:58
“Governor Pillin in Nebraska... was the first governor to opt in for the Education Freedom Act.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 11:01-11:07
“Ultimately Congress has to vote on closing the Department of Education and eliminating the office of the Secretary of Education.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 12:34-12:43
“We moved all of our adult education programs over to the Department of Labor.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 13:24-13:30
“We have a workforce shortage in our country today.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 16:39-16:43
“Kids who participate in these dual credentials pay 65% of what it would cost if they were out of just coming without coming through the dual…”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 19:33-19:46
“The Department of Education does not control curriculum anywhere.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 21:29-21:35
“We don't hire teachers, we don't buy books.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 21:34-21:37
“Innovations are coming from the state level. They're not dictated from Washington.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 23:26-23:31
“It took Mississippi, I think, almost 10 years, once they knew they had a problem, to reintroduce [the science of Reading] from kindergarten…”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 24:07-24:17
“About 8,000 students took online what was called the impossible test.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 26:33-26:38
“Actually, we had about 3,000, I think, who actually took the test.”
PA Leadership Conference with U.S. Education Sec. Linda McMahon (04/10/26) | Uploaded April 10, 2026 | 26:43-26:49