Some very brief background on the student loan programs:
- SLSA opposes S129 and H2173
- Federal Loans are already extensively regulated.
- Most federal loan borrowers are successfully repaying their student loans.
- The current Department of Education compensation structure encourages servicers to do the right thing.
- Private loans have very low delinquency and default rates.
- Small servicers will be harmed.
- Could the federal student loan program be improved? Yes…