Just loans from 2007 to 2012 are now on target to make $66 billion in profits for the U.S. Government.

I appreciate you holding this hearing. It's very important, and thank you all for coming.

the break-even interest rate on student loans... would be about 2.5 percent.

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.

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 must work together to ensure that student loans are manageable and fair.

There are 34 million families in the U.S. that are unbanked or underbanked, meaning they rely on check cashing, on payday lending or other financial services outside the traditional banking system.

Part of preventing fraud is deterrence. The government can invest billions of dollars in identifying fraud, but if major wrongdoers only get a slap on the wrist, then it does not mean much in terms of deterrence.

Again, the question, Dr. Agrawal, is not whether or not you have ever taken anyone forward. The question is whether there is a policy in place that distinguishes why sometimes these things settle out and do not.

The average underbanked family makes about $25,000 a year and it spends about $2,400 a year just on interest and fees for basic financial services.

I think this gives us an opportunity to expand access, an opportunity to create some real competition here, and an opportunity to think more creatively about how it is that people of moderate income, how it is that people who live in rural…

What I am trying to ask about is whether or not you have a policy in place for when it is that you make the decision that you are just going to settle and tell them to clean it up internally, or you are actually going to pursue it--you are…