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…