While several recent reports have suggested that many student loan borrowers face needless hurdles when trying to reduce their monthly payments through the Department of Education’s income-driven repayment plans, a new study has found the programs are working and will eventually forgive $108 billion in outstanding student debt. [More]
Last year, the Department of Education issued more than $96 billion in federal student loans to more than 9.1 million college students. Someday in the future these borrowers will begin repaying these debts, but a new report finds that limitations and a disconnect between the federal government and its contracted loan servicers can make this a daunting and sometimes costly task. [More]
Things are difficult for the IRS right now. For the last few years, people contacting the IRS have encountered lengthy phone hold times, and identity theft and refund fraud drain billions of dollars’ worth of tax refunds into the pockets of international criminals. The Government Accountability Office has the job of overseeing government agencies, including the IRS, and it released a new report today about its issues and possible ways to fix them. [More]
Nearly a month after a government report identified security weaknesses within the airline industry, including the possibility that newer airplanes with interconnected WiFi systems could be hacked, a recently obtained Federal Bureau of Investigation search warrant shows a security researcher claims he briefly took control of an aircraft after hacking into the plane’s in-flight entertainment system. [More]
Just as a report found in early February that the newest models of connected cars aren’t adequately guarded from security and privacy hacks, a new report from the U.S. Government Accountability Office found the same issue currently plagues another transportation segment: flying. [More]
Once upon a time many youngsters dreamed of careers as pilots. The thrill of taking flight and the glamorous depictions on television and the big screen created fantasies of a career in the sky. Over the years the industry has changed. Recently regional airlines have reported new regulations, higher costs of school and lower salaries are causing a pilot shortage that could result in fewer flights for consumers. But a new report by the Government Accountability Office shows that the issue may be more complicated than it seems.
There’s no doubt that millions of homeowners were the victims of shady foreclosure practices at the country’s biggest banks when the recession hit. So many of those people were likely hoping for a positive resolution to their woes when the government said it was going to figure out how to compensate homeowners with its Independent Foreclosure Review, an investigation into banks’ mistakes in servicing mortgages. But after waiting years for an answer, about three million eligible borrowers will only be seeing checks for between $300 and $500.
Despite the fact that the American public seems to be pretty anti-dollar coin in the coin vs. bill debate, Congress is still fighting to push the $1 coin on the country, almost a year after the debate first began. We say fight, because as history has shown, the general population doesn’t mind chucking dollar coins in a jar but is definitely against waving goodbye to paper $1 bills forever. [More]