Just recently the GAO raised questions about Federal debt collectors that are breaking the rules.
Elizabeth Warren
The Public Record
Elizabeth Ann Warren is an American attorney, academic, and politician serving as the senior United States senator from Massachusetts since 2013. A member of the Democratic Party, she has been a prominent advocate for consumer protection, economic equality, and corporate regulation. Warren gained national recognition for her work in establishing the Consumer Financial Protection Bureau and has focused on issues such as student debt relief and healthcare reform during her tenure in the Senate.
We have got studies now showing that it is causing people not to be able to buy homes.
Shouldn't we start by doing what we can to reduce the size of their debt loads?
We should be doing everything we can to help student loan borrowers repay their loans, and part of that is improving loan servicing.
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.
It would make sense to me that maybe there are more options available to refinance at perhaps a lower rate.
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.
There will be two rollcall votes at noon tomorrow. Additional rollcall votes on nominations are expected. ____________________





