Student loan problem is caused by unnecessary high college tuition and fees

Washington Post:
Top student loan watchdog resigns, claiming the Trump administration is siding with predatory lenders

Seth Frotman, who works for the Consumer Financial Protection Bureau, wrote in a scathing letter that he would leave his position as student loan ombudsman at the end of the week.
This misses the source of the problem.  There would be no need for these lenders were it not for the excessive fees of colleges and universities whose administrators are living like the one percent on the backs of unsophisticated student borrowers.  Why in the world should Elizabeth Warren make more than many CEO's and executives who actually produce things for Americans while she teaches one class at Harvard?  Why should administrators be making over a million dollars a year? 

The lenders are just feeding on the greed of the universities and colleges.  If they use abusive practices they should be dealt with but do not ignore the real source of the problem.


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