Federal student loans are costing the government billions, report finds ...Middle East

Story at a glance A new government watchdog report found federal student loans will cost the government $197 billion. That's after the Education Department initially expected student loans to bring in a profit of $114 billion. The discrepancy stems from multiple changes in the federal student loan program over the past decade, including the current COVID-19 moratorium on loan payments. When the federal government began directly lending to students that needed loans to finance higher education, they expected the venture would generate billions of dollars in income. However, over 20 years later that estimate hasn’t come to fruition — Instead a new report shows

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Federal student loans are costing the government billions, report finds ...Middle East

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