Last year the federal government lent $60 billion to students seeking a college education. What does that money actually buy? Good question.
Federal officials have “an incomplete picture of the effectiveness of federal assistance,” James White, director of strategic issues at the Government Accountability Office, told Congress on Wednesday. In other words: The Education Department doesn’t know whether the slew of loans, grants, and tax credits available to students have an effect on such things as which schools they attend, how long they stay in school, and whether they end up with a degree.
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