Friday, July 12, 2013

MN Progressive Project: Franken seeks protections for students from loan exploitation

by The Big E on July 11, 2013
“Right now, students in Minnesota are struggling to cobble together the funds necessary to pay for their college education,” said Sen. Al Franken (DFL-MN). “And after getting a degree, the last thing they should face is further financial burden.

Sen. Al Franken (DFL-MN) is doing what he can to help students. He faces two main hurdles in accomplishing anything.

First is Majority Leader Harry Reid’s inability to reform filibustering in the Senate. With a weak and worthless leader like Reid, the Senate will never accomplish anything. Secondly, the House led by Rep. John Kline (R-MN) on education issues will only pass student loan bills in which private lenders profit and there are few if any protections for students.

To get around these hurdles, Franken has an interesting strategy: get federal officials to go after the lenders who are fleecing students.
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