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Government Losses on Student Debt Climb Above $100 Billion Amid Pause on Payments

Congressional Republicans ask for details on costs amid moratorium on loan repayments

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The pause in student-debt repayment has cost the federal government more than $100 billion since the start of the pandemic and could cost $4 billion to $5 billion a month until the moratorium is lifted at the beginning of May, according to government estimates.

With costs mounting, congressional Republicans, led by Rep. Virginia Foxx and Sen. Richard Burr, both of North Carolina, asked the Education Department on Wednesday to release documents related to how the government calculates projected losses from students defaulting on their loans.

 

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