Lawsuit Alleges Obama Administration Inflated Student Loans

Lawsuit Alleges Obama Administration Inflated Student Loans

Lawsuit Alleges Obama Administration Inflated Student Loans

Conservative watchdog group Judicial Watch filed a Freedom of Information Act lawsuit against the U.S. Department of Education for records of the Obama Admin’s reported “coding error” which caused inflated College Scorecard repayment rates.

“The Obama administration’s Obamacare legislation also included provisions that resulted in the federal takeover of the student loan industry, which radically increased taxpayer subsidies of higher education loans,” Judicial Watch said in a statement.

“The Education Department acknowledged in early January that the coding error resulted in wildly inaccurate College Scorecard repayment rates.”

Judicial Watch cited a WS-J report the Obama-era Education Department announced a “coding error” which “led to the undercounting of some borrowers who had not reduced their loan balances by at least 1 dollar.”

“The government-run student loan racket is a disaster for taxpayers and has been abused to target for-profit competitors of liberal-controlled ‘public’ universities,” Judicial Watch President said in the group’s statement.

“The Trump Administration should quickly respond to our FOIA lawsuit about this scandal. The Trump Administration has an opportunity to drain the swamp in higher education by exposing the truth about their expensive taxpayer subsidies.”

The Consumer Federation of America put out a study last Tuesday reporting the number of people severely behind on their student loan repayments is 14% higher than last year, according to the data.

Again, The Trump Administration now has an opportunity to drain The Swamp in higher education by exposing the truth about their expensive taxpayer subsidies.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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