Millions of dollars in student loan debt could have been cancelled already had the student loan machinery worked properly, according to a government watchdog.
A new report by the Government Accountability Office (GAO) looked into income-driven repayment (IDR) plans and found that as of June 1, 2021, around 7,700 student loans were due to be forgiven under existing rules — but the Education Department (ED) had only approved 157 loans to actually be discharged.
“Until Education takes steps to…
Source link
