The us government Responsibility Work environment (GAO) released a report recently, as a result in order to an inquiry of a group of Republican senators, highlighting the features of Grad Also Loan individuals, and also the potential ramifications of instituting annual and you may aggregate mortgage constraints towards the Grad Also Fund.

In case the authorities instituted a keen aggregate financing maximum off $fifty,one hundred thousand, GAO found that ED would have ounts by $22

Addressed to 3 people in the fresh Shared Financial Committee – Sens. Mike Lee (R-UT), vice-chairman of your own committee, Expenses Cassidy (R-LA), and you will Tom Thread (R-AR) – GAOs declaration discovered that as of , new Agencies out-of Education (ED) paid $71 mil into the Graduate As well as Money to a single.seven mil borrowers. GAO stated that ED paid normally $41,530 each debtor and you may a median from $twenty six,863, hence credit quantity ranged from $5,000 on 10th percentile to $98,554 in the 90th percentile.

GAO also discovered that more Graduate Including Financing individuals was in fact subscribed to a fundamental, 10-seasons cost bundle since the termination of Summer. Read More >