Washington, D.C. – In response to today’s U.S. Senate confirmation of Betsy DeVos as the Secretary of Education, Rohit Chopra, Senior Fellow at the Consumer Federation of America, issued the following statement. Chopra was previously Special Adviser to the Secretary of Education and Assistant Director of the Consumer Financial Protection Bureau:
“While much of the confirmation debate focused on education from Pre-K to high school, the Secretary will have to spend significant energy on higher education, including overseeing the Department’s student loan bank and the 43 million borrowers it serves.
Every single day, thousands of Americans are defaulting on their student loans. With more than 8 million in default and millions more on the brink, the new Secretary can’t hide from this trillion dollar trouble.
Large financial institutions and government contractors are responsible for keeping borrowers on the road to repayment, but have fallen short. The new Secretary needs to put borrowers and taxpayers first, rather than focusing on helping the student loan and for-profit college industries pump up their profits.”
Contact: Rohit Chopra, 202-939-1018, rchopra@consumerfed.org
The Consumer Federation of America is an association of more than 250 non-profit consumer groups that, since 1968, has sought to advance the consumer interest through research, education, and advocacy.