Sentences with phrase «idr plan budget»

This report examines: (1) current IDR plan budget estimates and how those estimates have changed over time, and (2) the extent to which Education's approach to estimating costs and quality control practices help ensure reliable estimates.

While actual costs can not be known until borrowers repay their loans, GAO found that current IDR plan budget estimates are more than double what was originally expected for loans made in fiscal years 2009 through 2016 (the only years for which original estimates are available).

Until that happens, IDR plan budget estimates will remain in question, and Congress's ability to make informed decisions may be affected.

GAO was asked to review Education's IDR plan budget estimates and estimation methodology.

Not exact matches

Second, the budget is expected to reduce the number of Income - Driven Repayment (IDR) plans from five to one.

Education also assumes no borrowers will switch into or out of IDR plans in the future despite participation growth that has led budget estimates to more than double from $ 25 to $ 53 billion for loans made in recent fiscal years.

For the fiscal year 2017 budget, the U.S. Department of Education (Education) estimates that all federally issued Direct Loans in Income - Driven Repayment (IDR) plans will have government costs of $ 74 billion, higher than previous budget estimates.

GAO analyzed published and unpublished budget data covering Direct Loans made from fiscal years 1995 through 2015 and estimated to be made in 2016 and 2017; analyzed and tested Education's computer code used to estimate IDR plan costs; reviewed documentation related to Education's estimation approach; and interviewed officials at Education and other federal agencies.

Education's approach to estimating IDR plan costs and quality control practices do not ensure reliable budget estimates.

«[T] he numerous IDR plans currently offered to borrowers overly complicate choosing and enrolling in the right plan,» the budget document says.