As Trump and McMahon prepare to set their student debt collectors loose on American families, ED has yet to answer basic questions about how this will work, who will be required to pay, when payments are collected, and how much borrowers will owe.
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What Trump’s CFPB has and hasn’t done in the first two months of Russell Vought’s control of the Bureau. Vought has so far illegally fired staff, halted the Bureau’s critical work, and pardoned corporate lawmakers.
With the CFPB shuttered, advocates call on state regulators and Attorneys General to protect students and borrowers from the repeat offender.
The second Trump Admin has been filled with chaos and uncertainty for students and borrowers—but they can take critical steps to protect themselves and fight back.
House Republicans are moving forward with their plans to pass a budget that will allow them to deliver $4.5 trillion in tax cuts to billionaires and big corporations by cutting education, lifesaving healthcare and food assistance, and other critical social programs that working families rely on.
As the second Trump Administration has begun to implement its blatantly anti-worker agenda, state policymakers have an opportunity and responsibility to stand in the gap and protect workers in their states.
Without the CFPB, financial predators will get free rein.
Following OMB’s sweeping order to withhold federal grant and loan funds, policymakers must demand answers from McMahon as they vet her qualifications to be the nation’s top education official.
President Donald Trump was officially sworn into office, marking the beginning of the second Trump Administration. Millions of Americans with student loan debt are bracing to see how this new administration will approach the student loan debt crisis and whether President Trump will actually live up to his promise of lowering the costs of everyday life. Their concerns are completely understandable.
Students and education access should not be at the mercy of risky credit markets.