Unfairly squeezing student borrowers

Source: New York Times Editorial

Companies that are paid by the government to collect payments for federal student loans and to guide borrowers through the process are eager to see the Trump administration cripple the Consumer Financial Protection Bureau, which has primary authority over the industry.

That would leave more than 42 million federal student loans borrowers at the mercy of loan servicing companies that are already driving up repayment costs and pushing people toward default — which destroys their financial lives — by steering them away from affordable payment plans the government created.

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