Sen. Elizabeth Warren: It’s Obscene That The Govt. Profits Off Student Loans

There were several sticking points that bogged down the U.S. Senate from quickly passing legislation that would provide a long-term solution to the problem of interest rates on federal Stafford student loans. Among these was whether the government should be able to charge a rate that would allow it to make a profit.
Proponents of that idea say the profit will be used to pay down the national debt, but Senator Elizabeth Warren of Massachusetts believes it’s wrong to saddle young borrowers with higher interest just because the government hasn’t been able to maintain its books properly.

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