In 2007, the U.S. government made a bold promise: Graduates who chose to dedicate a decade of their lives to public service rather than chase more lucrative job opportunities would, at the end of those ten years, have the remainder of their student debt wiped away.
The GAO report made four recommendations, including a suggestion that the Department of Education integrate the two applications, require all loan servicers to include information about the new program on their websites, and include information in the department’s own online help section. The DOE did not respond to a request for comment on the report, but according to GAO, the department agreed with all of the recommendations.
Student debt has ballooned to $1.5 trillion this year, debt held by approximately 45 million Americans. A number of Democratic candidates for president have floated ideas to help solve the crisis. Sen. Bernie Sanders’ plan would cancel outstanding student loans by levying a tax on stock, bond and derivatives transactions. Sen. Elizabeth Warren, who has called student debt a “drag” on the economy, has introduced legislation that would wipe out some $640 billion in loans.
Sen. Tim Kaine, the Virginia Democratic senator who spearheaded the effort to get the extension approved by Congress in 2018, lay the blame squarely at the feet of Education Secretary. “We created a fix to this program and provided the Trump administration with hundreds of millions of dollars to give borrowers the loan relief they were promised, but instead they’ve left public servants in the lurch again,” the Virginia senator said in a statement.
I’m glad about that. I’ve bought a house in cash over the last 8 years sending my kids to school. The don’t have high debt. It was a choice. There’s no room for freeloaders.
Because, of course they do. It’s on page 1 of the manual.
I paid my loans even though I was broke and unemployed
Duh, do they think their over priced “education” was free? Good lord
Just remember, while everyday people give of themselves to help others in need, these greedy ultra rich wealthfare recipients, offer nothing more than to continue to take.
why such disdain for poor people gop usedgov BetsyDeVosED
thats lies! true version is here
too low
Paint me SHOCKED, from head to to-oe.