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A worrisome report about student loan repayments is allegedly hiding from public view at the U.S. Dept. of Education, and two Republican lawmakers are demanding answers from a party that wants to wipe away billions of student loan debt.
According to The Washington Free Beacon , GOP lawmakers are asking the Government Accountability Office to investigate the Dept. of Education for sitting on a Trump-era report that warns taxpayers may end up footing the bill for billions in unpaid student loans.
Democrats keep pushing for the federal government to wipe out — or “forgive” — thousands of student loans, an idea that predictably found favor with young voters who are making payments or, in many cases, cannot do so.
Jonathan Butcher, an education analyst at The Heritage Foundation , says some Democrats are advocating wiping out school loans for as much as $50,000 as part of the party’s forgiveness push. “I think that before we start saying we’re going to begin turning the responsibility of paying for college costs all over to taxpayers,” he tells One News Now, “we should know what is going on with students right now.”
According to the Beacon, GOP lawmakers Rep. Virginia Foxx and Rep. Greg Murphy sent a letter to the GAO demanding specific answers about the “accurate depiction of the budgetary impact of the federal student loan program,” since more than 40 million borrowers owe more than $1.5 trillion in student loans, the lawmakers said.
Mirroring the Beacon’s story, Butcher warns the true cost to taxpayers will be much higher than government projections.
“Anything that starts in Washington,” he says, “only grows, only ratchets up, only get bigger.”
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