GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
When a college closes, students can be left with loans, no degree, and no path forward. Some of those students may be eligible for federal student loan forgiveness through a "closed school discharge" from the Department of Education.
The National Credit Union Administration oversees federally insured credit unions and administers the fund that insures them. Credit union failures from 2010 through 2020 resulted in over $1.5 billion in losses to this fund.