The memo targets third parties like Navient - formerly Sallie Mae - that contract with the government to collect on loans. Those companies will be required to better inform borrowers about repayment options and notify them when they are delinquent, the White House said.
Read more: http://www.washingtontimes.com/news/2015/mar/10/obama-aims-to-clamp-down-on-federal-student-loan-s/#ixzz3U1Amqaei Follow us: @washtimes on Twitter
The White House unveiled a “Student Aid Bill of Rights” on Tuesday, declaring every 18-year-old in America—regardless of ability or interest—must be granted access to a college education, must borrow money from the government to finance that education on a payback plan set by the government, and must be “treated fairly” by government debt collectors.
http://www.breitbart.com/big-government/2015/03/10/obama-considers-allowing-student-loans-to-be-wiped-out-in-bankruptcy/
http://www.zerohedge.com/news/2015-03-10/next-mega-bailout-deck-white-house-studying-new-bankruptcy-options-student-loan-borr
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