More people aren't paying back their student loans than originally thought

Last Friday, the Department of Education revealed the updated numbers for student loan repayment, revealing that they had drastically overstated the repayment rates. The numbers show that over 1,000 schools have seen at least half of their students not repay even a single cent on their loans within seven years. The previous numbers suggested that only 477 schools had severe issues with student loan repayment. Due to the severity of the problem, many lawmakers are calling for more regular audits of the Education Department as well as punishments for schools that fail to recollect on the loans.