Elizabeth Warren

This is going to add to their debt burden and ultimately may drown them.

Federal contracts should include accountability and oversight protections that require servicers to perform to a high standard.

Well put, Mr. Hubbard. You know, about a quarter of Sallie Mae's loan portfolio is in deferment or forbearance.

Just because you have a low default rate does not mean that individuals are not mired in high amounts of debt.

When loan servicers break the rules, they push borrowers to do things that are good for the bottom line of the servicer.

I remain deeply concerned that that debt collectors for the Federal student loan program are breaking the rules and misleading borrowers.

This is why more than 30 Senators have introduced the Bank on Students Emergency Loan Refinancing bill.

We need real data to tell us which strategies work as a life preserver and which work as an anchor for borrowers.

Just recently the GAO raised questions about Federal debt collectors that are breaking the rules.

Shouldn't we start by doing what we can to reduce the size of their debt loads?

We have got studies now showing that it is causing people not to be able to buy homes.

It would make sense to me that maybe there are more options available to refinance at perhaps a lower rate.

We should be doing everything we can to help student loan borrowers repay their loans, and part of that is improving loan servicing.

If there is no further business to come before the Senate, I ask unanimous consent that it adjourn under the previous order. There being no objection, the Senate, at 7:24 p.m., adjourned until Tuesday, June 3, 2014, at 10 a.m…

There will be two rollcall votes at noon tomorrow. Additional rollcall votes on nominations are expected. ____________________

Collecting data across the board for individuals in higher education? Extremely important.

What we are talking about here is an established complaint system that has only been established since January.

I appreciate the Senator's comments about a complaint system that is in place.

Not just for veterans and active duty military, but we should also have a complaint system for all students.

But how about complaint data?

But we still have many who are in programs that are happy to take the military member's Federal benefits, but do not deliver on their promise of providing a good education.

Transportation infrastructure is powerfully important because this is how we help our economy move forward.

You know, you have had amazing growth, gone from zero hard rail to miles and miles of a system in 30 years.

I want to thank you for your advocacy on behalf of the Green Line, but also your advocacy on behalf of the whole transit system.

Without a transportation infrastructure or with a decaying transportation infrastructure, the whole economy is in trouble.