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62 Lawmakers Demand Education Department Act on Student Loan Default Crisis
Published 2 weeks ago
Description
Sixty-two members of Congress are demanding the Department of Education act before millions more borrowers fall into default and they want answers by June 22.
A June 7 letter (PDF File) led by Senators Elizabeth Warren (D-Mass.) and Jeff Merkley (D-Ore.), along with Representatives Ayanna Pressley (D-Mass.) and André Carson (D-Ind.), warns Education Secretary Linda McMahon that the U.S. is facing "the largest student loan default and delinquency crisis on record."
This comes as the entire student loan system is changing on July 1 - from new repayment plans, loan caps, and borrowers in the SAVE plan being forced to leave forbearance.