To begin, I’d like to share a few insights and trends related to student loans:

  • Most students who graduate from college have both reasonable loan balances and the income to support repayment.
  • The federal student loan program is too complex.
  • We have concerns about how state regulation of federal loan servicers will work, and whether it will increase the complexity.
  • Student loan servicers help millions of consumers repay their education loans, and avoid the negative consequences of default.
  • Bottom line: there are better solutions to address the real problem of student loan debt.