Tags: student | loan | fraud

IG Report: Student Loan Fraud Up 82% Since 2009

Wednesday, 05 Jun 2013 02:27 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
The Education Department's watchdog says the number of college students who are suspected of engaging in loan fraud has increased 82 percent since 2009.

The semiannual report released Wednesday comes as Congress is considering legislation to keep interest rates from doubling on students taking new subsidized Stafford student loans.

The Education Department's inspector general estimates the government issued $874 million in suspected fraudulent student loans since 2009.

The report says suspected fraudulent awards increased from almost 19,000 students to about 34,000 since 2009.

The Democratic-led Senate on Thursday is set to vote to keep interest rates from doubling to 6.8 percent on new Stafford loans.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Texas, Alaska, Oil States Face Budget Hit

Saturday, 27 Dec 2014 13:39 PM

Falling gas prices may be a driver's dream, but states that depend on oil and gas revenue are worried about the effect t . . .

Study: Marijuana Use Has Increased in Colorado

Saturday, 27 Dec 2014 09:00 AM

Colorado emerged as the state with the second-highest percentage of regular marijuana users as it began legalizing the d . . .

Michigan to Drug-Test Some Suspected Welfare Recipients

Friday, 26 Dec 2014 22:07 PM

Some of Michigan's welfare recipients will be drug-tested if they're suspected of using drugs, under a year-long pilot p . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved