Federal student loans are “expected to cost the government almost $9 for every $100 disbursed. It's a far cry from the original estimates.

How did the Department of Education get it so wrong? How is it they could claim student loans would bring in more than $100 billion in revenue for the federal government, when in reality they cost taxpayers nearly $200 billion?

What’s more, the Department of Education will continue to use these inaccurate accounting metrics for the next three years, meaning the agency’s budget will be wrong until at least 2026.

To make matters worse, none of this bad accounting includes any of the Biden administration’s recent or forthcoming actions on student loans.