On the recordOctober 4, 2000
The Department of Education, September 1999, prints 3.5 million financial aid forms. One problem, they printed them incorrectly. It cost the American taxpayer $720,000. There is one that we call ``dead and loving it.'' The Department of Education improperly discharged almost $77 million in student loans. We have a policy in place that, if a person, a borrower, dies or they become disabled, their loans are forgiven them. In this case, we forgave $77 million of student loans. Even better news for these young people is that they were not dead and they were not disabled. We just forgave them the loan improperly. This again, where we talk about I think what we saw in South Dakota, this affects real people. Thirty-nine students were selected to receive the Jacob Javits Fellowship. This is an award given to students that are graduating from undergrad that the Federal Government agrees to pay for 4 years of graduate schoolwork for them. Having a daughter that is just going to college, I can imagine how excited the parents would be that the tuition is covered.
Source
govinfo.gov




