"I'm very disappointed that Sallie Mae did not come today. I think it's important that we take a closer look at how all of our servicers are performing."
"We're charging more interest than we need to run the student loan program, and there's no mechanism to refund that money to the students."
"Just loans from 2007 to 2012 are now on target to make $66 billion in profits for the U.S. Government."
"the break-even interest rate on student loans... would be about 2.5 percent."
"It's not following the rules."
"We will issue guidance to the FFEL community through a Dear Colleague letter on how to implement the SCRA and access the Department of Defense's data base soon."
"I want to suggest that--we know that there are problems with Sallie Mae."
"I think it is obscene for the Federal Government to be making profits like this, measured in the billions of dollars, off the backs of our students."
"We don't build a future if we crush our young people with debt and don't let them have a fighting chance to get a start."
"I appreciate you holding this hearing. It's very important, and thank you all for coming."
"I think that's obscene. I don't think the student loan program should be designed so that it's making profits for the Federal Government."