Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise today in support of S. 1153, the Stop Student Debt Relief Scams Act. I was proud to have introduced the companion bill to this, H.R. 2888, with Representative Stevens. We cointroduced this bill, and I want to thank the gentlewoman for her leadership on this bill and for her work on this important issue. This is bipartisan, bicameral legislation that will crack down on third-party debt collection scammers who exploit vulnerable students. Over 40 million Americans today, Mr. Speaker, owe a collective $1.5 trillion in Federal student loan debt. Students are working hard to pay off their loans, but many are struggling to make ends meet. To that end, Congress offers borrowers an array of options to relieve the financial pressure of their debt. The Department of Education hires Federal student loan servicers to assist borrowers in repaying their loans by helping the borrower select the best option for their specific situation. These services are all provided at no cost to borrowers. Unfortunately, there are hundreds of malicious third-party debt collection companies that are seizing on students' vulnerability and engaging in predatory schemes by selling students on the notion that their company will reduce or make the student loan debt disappear. These are scammers who trick borrowers into paying an exorbitant fee for a service that is already available for free through the Federal student loan servicer.…”