Top Student Loan Watchdog Resigns Over Trump Admin Doing Bidding Of Predatory Lenders

 

Democracy Now! (8/29/18)

As the school year begins this week across the United States, the top student loan watchdog has resigned in protest, accusing the Trump administration of siding with powerful predatory lenders over student loan borrowers. Seth Frotman worked as student loan ombudsman under the Consumer Financial Protection Bureau director, Mick Mulvaney. He wrote that under Mulvaney’s leadership, “the Bureau has abandoned the very consumers it is tasked by Congress with protecting.” This comes as Education Secretary Betsy DeVos has proposed new rules that would cut an estimated $13 billion in federal student loan relief for people defrauded by for-profit colleges.

We speak with Sara Goldrick-Rab, professor of higher education policy and sociology at Temple University and author of “Paying the Price: College Costs, Financial Aid, and the Betrayal of the American Dream.”

Link to Story, Transcript and 15-Minute Video