NPR News: 03-21-2025 12PM EDT

Summary

NPR News Now: March 21, 2025, 12PM EDT

Hosted by Lakshmi Singh

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U.S. Political Shake-Up: SBA Takes Over Federal Student Loans

In a significant move to dismantle the U.S. Department of Education, President Donald Trump announced that the Small Business Administration (SBA) would assume control of the federal student loans program effective immediately. Speaking from the Oval Office, President Trump stated at [00:30], “I've decided that the SBA, the Small Business Administration, headed by Kelly Loeffler, he's a terrific person, will handle all of the student loan portfolio. We have a portfolio that's very large, lots of loans, tens of thousands of loans, pretty complicated deal. And that's coming out of the Department of Education immediately.”

This unilateral decision bypasses the necessary Congressional approval required to abolish the Department of Education. The announcement was made in the presence of Defense Secretary Pete Hegseth, who had recently met with Elon Musk, the architect behind Doge and a prominent tech billionaire. The context of their meeting remains unclear, though it follows reports suggesting Musk’s access to top-secret U.S. plans concerning potential conflicts with China. Hegseth described the meeting as “informal” and focused on “innovation and efficiencies” [00:55].

European Union Bolsters Support for Ukraine Amid Ongoing Conflict

At the latest EU summit in Brussels, European Union foreign policy chief Caye Kallis secured sufficient backing for her proposed €40 billion assistance package to Ukraine. However, Kallis has since refined the plan to supply 2 million artillery shells valued at €5 billion, emphasizing immediate defense needs. She highlighted the urgency, stating at [01:31], “Leaders debated European Commission President Ursula von der Leyen's readiness plan, which includes EU loans to countries buying weapons from European manufacturers.”

Ursula von der Leyen underscored the strategic importance of developing a robust defense industrial base within the European Union. “It is of utmost importance that we develop the defence industrial base in the European Union,” she remarked [02:03]. This initiative is part of the EU's broader strategy to reduce its security reliance on the United States, aiming for greater autonomy in defense capabilities [02:08].

Critical Failures Led to Maryland Bridge Collapse: NTSB Reports

The National Transportation Safety Board (NTSB) has criticized Maryland authorities for failing to conduct essential safety assessments on the Francis Scott Key Bridge prior to its catastrophic collapse after a ship collision last March. Scott Mascioni, the NTSB’s top official, remarked at [02:24], “The Maryland Transportation Authority failed to follow standards in assessing vulnerabilities to the Francis Scott Key Bridge.”

NTSB Chair Jennifer Homendy emphasized the missed opportunity to prevent the disaster, stating at [02:46], “The MDTA would have been able to proactively identify strategies to reduce the risk of a collapse and loss of lives associated with a vessel collision with the bridge.” Furthermore, Mascioni revealed that the Chesapeake Bay Bridge had never undergone a comprehensive evaluation and identified 68 other U.S. bridges nationwide that require similar assessments and assistance [02:59].

Heathrow Airport Shutdown Causes Global Flight Disruptions

London’s Heathrow Airport, Europe’s busiest, experienced a complete shutdown for the day due to a power outage at a nearby substation. Reporter Bill and Marks detailed the extensive impact, noting that up to a thousand flights were affected [03:11]. The outage forced the diversion of over 100 airborne flights, with Australian carrier Qantas rerouting planes to Paris and United Airlines diverting a flight from New York to Ireland [03:26].

Heathrow officials warned of continued significant disruptions in the coming days and advised passengers to refrain from traveling to the airport if possible. The shutdown has compelled dozens of international airlines to adjust their schedules, severely affecting British Airways and its global partners who rely on Heathrow as a central hub [03:26].

U.S. Economic Indicators Show Mixed Signals

The U.S. housing market is experiencing a surge, with existing home sales in February increasing by over 4% compared to January, as mortgage rates have begun to ease [04:00]. The National Association of Realtors reported this uptick despite a year-over-year sales decline of more than 1%.

Conversely, the labor market presents a nuanced picture. The latest government data revealed a slight rise in unemployment insurance claims, reaching 223,000 last week [04:00]. However, overall layoffs remain historically low. Experts anticipate forthcoming job reports may paint a more complex scenario, influenced by government-wide layoffs and the economic ramifications of ongoing tariffs.

On Wall Street, the Dow Jones Industrial Average fell by 257 points, or over half a percent, closing at 41,694 [04:00]. This downturn reflects investor concerns amid the mixed economic data and potential future disruptions.

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Notable Quotes:

• Donald Trump at [00:30]: “I've decided that the SBA, the Small Business Administration, headed by Kelly Loeffler, he's a terrific person, will handle all of the student loan portfolio. We have a portfolio that's very large, lots of loans, tens of thousands of loans, pretty complicated deal. And that's coming out of the Department of Education immediately.”

• Ursula von der Leyen at [02:03]: “It is of utmost importance that we develop the defence industrial base in the European Union.”

• Jennifer Homendy at [02:46]: “The MDTA would have been able to proactively identify strategies to reduce the risk of a collapse and loss of lives associated with a vessel collision with the bridge.”

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Transcript

[Pemco Mutual Insurance]

This message comes from Pemco Mutual Insurance Company. Their mission is to help customers worry less and live more. So they're sharing prevention tips that empower you to prevent some of life's pitfalls before they happen. Visit pemco.com prevention.

[Lakshmi Singh]

Live from NPR News, I'm Lakshmi Singh. In his bid to do away with the U.S. department of Education, President Trump has just announced that the Small Business Administration will take over the department's federal student loans program effective immediately.

[Donald Trump]

I've decided that the sba, the Small Business Administration, headed by Kelly Loeffler, he's a terrific person, will handle all of the student loan portfolio. We have a portfolio that's very large, lots of loans, tens of thousands of loans, pretty complicated deal. And that's coming out of the Department of Education immediately.

[Lakshmi Singh]

Congress would have to approve the abolishment of the Education Department. Trump is speaking to reporters from the Oval Office along with Defense Secretary Pete Hegseth. Hegseth had just wrapped up a meeting with Doge architect and tech billionaire Elon Musk. Both met in Hegseth's office at the Pentagon. It's unclear if that was in response to news reports that Musk was to be granted access to top secret US Plans for possible war with China. Hecseth had said that the meeting would be informal about innovation and efficiencies. European Union leaders agreed at a summit in Brussels to keep up the pressure on Russia to end its war on Ukraine. More from Terry Schultz.

[Caye Kallis]

EU foreign policy chief Caye Kallis to get enough support for her proposed 40 billion euros assistance package for Ukraine. So she's adapted that to trying to provide 2 million artillery shells worth 5 billion euros. Kalis spoke at the EU's latest summit focused on defense investment.

[Ursula von der Leyen]

Let's decide on the short term, which is the imminent needs that Ukraine has regarding the ammunition right now.

[Caye Kallis]

Leaders debated European Commission President Ursula von der Leyen's readiness plan, which includes EU loans to countries buying weapons from European manufacturers.

[Ursula von der Leyen]

It is of utmost importance that we develop the defence industrial base in the European Union.

[Caye Kallis]

That's part of the bloc's urgent efforts to reduce security dependence on the U.S. for NPR News, I'm Terry Schultz in Brussels.

[Lakshmi Singh]

The federal government says that Maryland authorities failed to conduct critical tests on the Francis Scott Key bridge before it collapsed last year, was struck by a ship. Here's wypr.

[Scott Mascioni]

Scott Mascioni, the National Transportation Safety Board's top official, says the Maryland Transportation Authority failed to follow standards in assessing vulnerabilities to the Francis Scott Key Bridge. The board ran its own calculations and says when a cargo ship hit it last March, the bridge's risk of collapse was far higher than what is acceptable. NTSB Chair Jennifer Homendy says the state missed an opportunity to avert disaster.

[Jennifer Homendy]

The MDTA would have been able to proactively identify strategies to reduce the risk of a collapse and loss of lives associated with a vessel collision with the bridge.

[Scott Mascioni]

The NTSB says the Chesapeake Bay Bridge has never been evaluated and has identified 68 other U.S. bridges across the nation that need assistance. For NPR News, I'm Scott Maccione from Washington.

[Lakshmi Singh]

This is NPR News. The busiest airport in Europe has closed for the day after a nearby power outage. Villamarx reports this is likely to affect up to a thousand flights at London's Heathrow Airport.

[Bill and Marks]

A fire at a substation west of London has caused a shutdown at Heathrow, forcing the diversion of more than 100 flights that were already in the air. Australian carrier Qantas has diverted planes to Paris, while United has diverted a flight from New York to Ireland. A spokesperson for Heathrow has warned of significant disruption in the days ahead and warned passengers to avoid travelling to the airport under any circumstances. Dozens of international airlines will be forced to reconfigure their schedules to avoid Heathrow, which serves as a global hub for British Airways and several of its partners. For NPR News, I'm Bill and Marks in London.

[Lakshmi Singh]

As mortgage rates in the U.S. ease, more people sold their homes in February compared to the month before. The national association of Realtors reports a more than 4% increase in existing home sales from January compared to a year ago. Sales fell by more than 1%. Meanwhile, the US government's latest look at the jobs market found a slight uptick in the number of people who filed for unemployment insurance. Last week it hit 223,000. Overall, though the number of layoffs are still at histor low levels. Experts are projecting though a different picture in upcoming jobs reports that reflect government wide layoffs and impacts from tariffs. At last check on Wall street, the Dow Jones industrial Average is down 257 points or more than half a percent at 41,694. This is NPR News.

[Pemco Mutual Insurance]

Listen to this podcast sponsor free on Amazon Music with a Prime membership or any podcast app by subscribing to NPR News now pl us at +npr.org that's +npr.org.