Reply to What is going on with student loans?

Forum Index » Political Discussion

Reply to "What is going on with student loans?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]And, they think the govt. can run our health care......

[b]Department of Education miscalculated student loan spending by $311B: Watchdog[/b]

[quote]A new report from the federal government’s watchdog agency shows the Department of Education understated the cost of the federal student loan program by $311 billion.

The Government Accountability Office's report, released Friday, showed that from 1997 to 2021, the department estimated the federal direct loan program would generate $114 billion in revenue from the program over that period of time.

But the program, which disbursed $1.8 trillion in student loans, has actually cost the department $197 billion over the past 25 years, a discrepancy of $311 billion.

The report says $189 billion of the $311 billion shortfall was due to the department making assumptions about student loan borrowers that ultimately proved to be flawed or incorrect. The additional $122 billion was due to "programmatic changes" that included the suspension of loan payments and interest accumulation during the COVID-19 pandemic.[/quote]

https://www.washingtonexaminer.com/policy/education/watchdog-department-of-education-311-billion-student-loans[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics