Republican Lawmakers Question Biden Admin on Alleged $500 Billion Hole in Student Loan ProgramEpoch Times, United States politics | The Epoch Times

The ranking Republican members of the House Education and Labor Committee are asking the Education Department to release a report that allegedly shows a $500 billion gap between what the federal government valued student loans at and their actual worth. In an April 30 letter (pdf) to Education Secretary Miguel Cardona, Reps. Virginia Foxx (R-N.C.) and Mike Bost (R-Ill.) expressed concerns that the policy makers’ assumptions about federal student loans might by based on “gimmicks or falsehoods,” citing a recent news story from The Wall Street Journal. The story features the findings of former JP Morgan executive Jeff Courtney, who was commissioned by former Education Secretary Betsy DeVos to conduct an analysis about student loans held by the federal government. His report alleged that the government has spent three decades making the student loan program look more profitable despite an increase in defaults, potentially leaving taxpayers on the hook for …Read More

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