ENEWS PARK FOREST: Senators to Education Department: Stop Profiting Off Student Loans and Fulfill Congressional Directives to Help Struggling Borrowers
Career College Central Summary:
Noting that “(i)t is not the job of the Department of Education to maximize profits for the government at the cost of squeezing students who are struggling to get an education,” United States Senators Elizabeth Warren (D-Mass.), Sherrod Brown (D-Ohio), Jeff Merkley (D-Ore.), Richard Blumenthal (D-Conn.), Tammy Baldwin (D-Wis.), and Edward J. Markey (D-Mass.) sent a letter asking the U.S. Department of Education to “implement the directives it has been given by Congress to ensure that our most vulnerable young people struggling with the burden of federal student debt have meaningful opportunity to build a strong future for themselves and their families.”
In the letter, the Senators note that recent estimates show the federal government will produce $110 billion in profits from its student loan program over the next decade. “(I)t is striking that the Department still intends to generate such significant revenue from federal loan programs designed to help young people get an affordable education,” they wrote.
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ENEWS PARK FOREST