Majority Leader Schumer And Senators Sanders And Warren Statement Calling For Investigation Into Student Loan Forgiveness Mismanagement By MOHELA

Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY), Senate Health, Education, Labor, and Pensions Committee Chairman Bernie Sanders (I-VT), and Senator Elizabeth Warren (D-MA) today released the following statement calling for an investigation into student loan forgiveness mismanagement by MOHELA, one of the nation’s largest servicers of student loans:

“We stand with the Student Borrower Protection Center and the American Federation of Teachers in expressing outrage at MOHELA’s mismanagement of their student loan portfolio that resulted in denied services to millions of hard working borrowers. After the Biden administration commendably took significant steps to fix long-standing issues with the Public Service Loan Forgiveness program and canceled debt for nearly 800,000 borrowers under the program in just two years, it’s disgraceful that MOHELA prioritized their own profits over servicing hard working public servants. We urge the Consumer Financial Protection Bureau and states Attorneys General to investigate MOHELA and pursue action to the fullest extent possible under the law.  Our nation’s public servants, members of the military, and first responders deserve far, far better.”

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