Takeaways from Senate Panel's Private Student Loan Hearing

June 26, 2013
American Banker 
student loan news

The Senate Banking Committee on Tuesday pressed regulators about mounting concerns with the student debt market, especially challenging whether lenders are doing all they can to delay or modify troubled student loans. Regulators have also been fielding criticisms from lenders, who have been pushing regulators to allow them more leeway with accounting practices when they offer forbearance to recent graduates who are unemployed or underemployed. The hearing came one day after Sen. Elizabeth Warren (D-Mass.) raised concerns about financing that the Federal Home Loan Bank of Des Moines has provided to Sallie Mae.
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