How Costly Would Student Loan Forgiveness Be for the Federal Government?
Estimates from the Congressional Budget Office (CBO) show that the administrative costs of the Federal Student Aid office in 2021 was a little more than $3 billion, according to the KQ Education Group website. Others put the estimate much higher when you factor in total costs, including hiring collectors to track down delinquent borrowers.
But even the highest cost estimates pale in comparison to how much the federal government is owed in student loans, with estimates there ranging from $1.5 trillion to $1.8 trillion. Wiping out those loans through debt forgiveness would be an expensive proposition.
Are TurboTax ‘Free’ Services a Scam? Elizabeth Warren Certainly Thinks So
Just weeks after taking the Hertz rental car company to task for alleged illegal practices, Senator Elizabeth Warren (D-Mass.) and two other legislators have accused financial service provider Intuit of hiring former regulators to defend its popular TurboTax products in a plan to “scam American taxpayers” into paying for services that were advertised as free.
Get full details on the accusations here.
Trouble Managing Social Security Benefits? A Representative Payee Could Help
When a Social Security beneficiary is unable to manage their own account, they can have a representative payee step in to manage the account for them. This…
