I wanted to echo the words of Senator Menendez. I am a cosponsor of his legislation.

I appreciate the Bureau's continued interest in providing oversight to this high-cost market.

there is good news for America's veterans this afternoon. Senator McCain and Senator Sanders, the chairman of the Veterans' Affairs Committee, have apparently come to a tentative agreement on what we should do to deal with some of the…

during Memorial Day and last week, I spent much of the time traveling Ohio with Michael Fairman, a retired Navy corpsman and a Columbus resident, who served with the Marines in Afghanistan from 2007 to 2011. His son Zack is a…

The investment that America has made in servicemembers is ultimately crippled when these individuals cannot invest in themselves.

Federal student loans are seen as safer than private loans because they offer repayment options, but we often hear that Federal loans lack comprehensive and consistent servicing standards.

Thank you, Senator Warren. And to the witnesses, thank you all for joining us.

If a servicer is found to repeatedly violate their Federal contracts or Federal laws, should there be consequences?

Outstanding student debt is $1.2 trillion--more than credit card debt, more than auto loans.

Sixty million dollars being paid out is a sign that if you are going to take advantage of the system, you are going to abuse servicemembers and their loans, then it will not be tolerated.

It is critical that we ensure that student loan servicers do their jobs properly to protect individual borrowers and our economy as a whole.

Sometimes the reason is beyond her or his control. You see that soldier eligible for a promotion... and they are denied because of the credit score.

Defaults will have long-term impacts on our economic recovery.

I rise to discuss the growing problem with U.S.-China relations. Earlier their week we saw another example of how the Chinese Communist government will do everything it can--anything--to get ahead. The United States of America, in…

We should consider both angles.

We have to have the courage to act.

Would you support--and I do not know if Senator Rubio has thought it through in this direction.

That does nothing to redistribute money to lower levels; it just, quote-unquote, 'fixes Social Security' by taking a little from the upper-income.

While a number of us here want to see a more redistributive, a more progressive Social Security system, it does lead us to not want to means-test upper-income people.

To me, it is a moral issue and an economic issue.

We need to think more holistically about how we actually change our culture of debt, consumption, savings, housing policy, the tax code.

And with the erosion of unions and the minimum wage together, we lead the world in the creation of low-wage jobs.

The cash benefit is still far too low for a long-time, low-income worker, and that is clearly a big part of the problem here.

We need to make sure they have access to a retirement account in some way, shape, or form.

Is it the right public policy that to ultimately end up in this place, that low-wage, lifetime workers--