GAO SAYS ED DEPARTMENT NEEDS TO SHARE BETTER STUDENT LOAN DATA
A new report from the Government Accountability Office (GAO) indicates a need for the Education Department to share better student loan data. The report, which was published in January but publicly released Monday, indicates that the growth of the federal Direct Loan program (which is under the purview of the ED) indicates a need for more detailed annual reporting. The GAO states that better reporting could, "help Congress make decisions about the program and to help the public understand its use of taxpayer dollars." The ED agreed with this recommendation and stated that the department would assess possible enhancements.
In other student loan news, the Consumer Finance Protection Bureau (CFPB) announced a new watchdog top official for student loans in Julia Barnard. As reported by POLITICO Pro this morning, Barnard will replace Robert Cameron, a former student loan executive who was appointed in 2019. Barnard previously was a markets and policy analyst at the bureau and worked on issues related to campus banking products.