Don’t let DeVos monopolize student loans!
A few years ago, the Obama administration began a smart initiative to simplify federal student loans. Under their plan, all loans could be accessed on a single online platform, making it easier for borrowers to check in on their loans.
Here’s the bad news: Betsy DeVos just decided to take that plan way further, by consolidating the loans into one single company, not only one website. This would reduce the number of vendors from nine to one, allowing that single company to handle $1.3 trillion worth of student loans.
This terrifying change would jeopardize crucial consumer protections, and increase people’s risk of defaulting on loans. Our elected officials need to speak out against this change before it takes effect.
Tell your reps to oppose DeVos’s dangerous consolidation!
Loan lenders can’t gain even more power.