Contact: Caroline Rabbitt (202) 224-2353
Washington, D.C.- Senator Tom Cotton (R-Arkansas) along with Senators Dan Coats (R-Indiana), Bill Cassidy (R-LA), Mike Lee (R-UT), and Congressman Pat Tiberi (R-Ohio), sent a letter last week to the Government Accountability Office (GAO) requesting a comprehensive analysis of the Grad PLUS student loan program, as well as the various income-based repayment plans offered by the Federal Government. Specifically, the letter asks the GAO to determine the budget impacts of the program, rates of participation, different ways schools may be abusing the program for financial benefit, whether advertised program terms are an accurate assessment of monthly payments, and different ways the program may have affected borrower behavior.
"Student loan programs are an important resource that help provide Arkansas's and America's students with access to education," said Cotton. "But we must ensure these programs are not being taken advantage of or putting unnecessary strain on our federal budget. I look forward to working with the GAO to gain further insight into ways to improve the student loan program."
