August 1, 2014

Senator Elizabeth Warren pushed on a banker testifying before the Senate Banking Committee about student loans Thursday. She wasn't gentle.

From her Facebook page:

In 2005, banking lobbyists successfully convinced Congress to remove bankruptcy protections for private student loan borrowers. Today in a Banking Committee hearing, I asked a top banking lobbyist: If struggling student loan borrowers can't discharge their loans in bankruptcy, and banks won’t let them modify their loans, what are they supposed to do? Watch what he said.

She also cited the story reported by CNN Money of a young woman who died leaving 3 small children and $100,000 in student debt behind. Watch him sputter as he tries to spin a response that deflects away from the fact that private student debt is a huge millstone around the necks of students everywhere.

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