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

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

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

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

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

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

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

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

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

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

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