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In the event the government instituted an enthusiastic aggregate financing restrict away from $fifty,100, GAO learned that ED could have ounts by the $twenty two
Addressed to 3 people in the new Shared Economic Panel – Sens. Mike Lee (R-UT), vice chairman of one’s committee, Bill Cassidy (R-LA), and you can Tom Cotton fiber (R-AR) – GAOs declaration unearthed that as of , new Institution away from Knowledge (ED) paid $71 million when you look at the Grad Plus Financing to at least one.eight billion individuals. GAO stated that ED paid an average of $41,530 each borrower and you will a median from $twenty six,863, hence credit wide variety ranged off $5,one hundred thousand from the tenth percentile so you can $98,554 at 90th percentile.
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