Chair Warren, Ranking Member Kennedy, and Members of the Committee, thank you for the opportunity to testify today.
Federal student loans impose a crushing burden on many borrowers, particularly those who enroll in programs where most students dont finish, programs where most graduates are unable to find a job, or programs where debts incurred are unpayable even with a good-paying job. Because of failures in federal lending programs, millions of Americans are drowning in student debt. The borrowers who struggle are disproportionately from lower-income families, first generation students, and students of color. And many more Americans miss out on the economic opportunities a college education provides out of fear of its cost.
But that i…
Read the full article at: https://www.brookings.edu/testimonies/the-student-debt-burden-and-its-impact-on-racial-justice-borrowers-and-the-economy/