Letter to Education Department on Student Loan Worth

Published May 03 2021 at 7:00 AM GMT
  • 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.



  • Published May 3, 2021 7:00 AM GMT