The Huffington Post reports that President Barack Obama will announce this week "sweeping borrower-friendly recommendations to fix the $1.1 trillion federal student loan system."

According to the website, "Obama's 'Student Aid Bill of Rights' includes recommendations for a new Education Department complaint system so grievances filed by students and borrowers are referred to regulators and law enforcement agencies; mandatory disclosures by the Education Department when borrowers' accounts are shuffled between loan companies; and a directive that the Education Department increase its cooperation with White House offices and other government agencies when it comes to understanding borrower behavior, identifying trends in student debt, and improving its interactions with its loan contractors."


Your comment will be posted after it is approved.

Leave a Reply