FIX BUDGET SCOREKEEPING RULES, LOAN PROVIDERS URGE 

“The time has finally come for Congress to fix the budget scorekeeping rules for federal student loan programs. Until then, there should be a moratorium on any program changes that have major budget implications. In particular, Congress shouldn’t be looking at making changes in the Federal Direct Student Loan Program that are based on the projected budget savings, because in the end the savings won’t be there.

“PWC’s independent, nonpartisan study demonstrates yet again that budget scorekeeping rules seriously understate the true costs of the Direct Loan program and dramatically overstate the costs of the Federal Family Education Loan Program. How could Congress possibly make good policy decisions if the numbers that are supposed to show the true costs simply don’t add up? Maintaining the scorekeeping status quo isn‘t good for anybody -- not for students, colleges or taxpayers.” 

PricewaterhouseCoopers Study

Excerpts from other independent studies concerning these scorekeeping biases may be found on our web site.