Education

Letter to Education Department on Student Loan Worth


The ranking Republican on the House Education and Labor Committee is asking the Education Department to release a report that allegedly describes a gap of hundreds of billions of dollars between what the executive branch has said student loans are worth and what they’re actually worth.

An article by The Wall Street Journal claims the department is refusing to release a report commissioned by former secretary of education Betsy DeVos that describes how student loan budgetary projections are calculated, wrote Representative Virginia Foxx, a Republican from North Carolina, and Representative Mike Bost, a Republican from Illinois, in an April 30 letter to Secretary of Education Miguel Cardona.

“Taxpayers deserve to know if their investment has a junk rating,” the lawmakers wrote. “The federal government should not be making money off its lending program to students, nor should it add to unborn generations’ tax burdens.”

Foxx and Bost asked Cardona to publicly release the report by May 5.

The Education Department was unable to provide comment on the letter.

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