The US ' the Senate Budget Committee ( GAO ) suggests the $ 1.3tn US student loan debt situation will get worse because GAO significantly underestimated the cost of the government's income-driven repayment programme. As a result, the federal government may be forced to forgive 1.3tn in student loans over between 2009 to 2016 , with a further $29bn expected to be discharged. “It’s terrible that one of the only profit centers we have is student loans,” Trump said last year. “At a time when our nation is facing a mammoth national debt, the Department of Education has expanded a student loan program that will cost twice as much as originally estimated,” says Senator Trump , chairman of the Senate Budget Committee .
The US ' the Senate Budget Committee ( GAO ) suggests the $ 1.3tn US student loan debt situation will get worse because GAO significantly underestimated the cost of the government's income-driven repayment programme. As a result, the federal government may be forced to forgive 1.3tn in student loans over between 2009 to 2016 , with a further $29bn expected to be discharged. “At a time when our nation is facing a mammoth national debt, the Department of Education has expanded a student loan program that will cost twice as much as originally estimated,” says Senator Trump , chairman of the Senate Budget Committee .