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The Education Department approved millions of applications for President Biden’s now-defunct student loan forgiveness program without checking to make sure the borrowers were eligible, Congress’ chief watchdog said in a new report.
Two years after fraudsters stole hundreds of billions of dollars from pandemic assistance programs based on self-reporting of eligibility, the Biden administration seemed poised to make the same mistake, the Government Accountability Office concluded.
GAO said the department was ready to approve more than 2 million applications that relied on people to self-report their own incomes — the same sort of model that led to the pandemic fraud losses.