Today, students from across the country gathered at the Sallie Mae shareholder meeting to ask Sallie Mae to change their student lending practices. Rep. Hansen Clarke released the following statement:
"I respectfully ask Sallie Mae to partner with me in working toward fairness in student lending and equity in access to higher education. Student loan debt is costing this country jobs and robbing many young college graduates of their future. We must work together to address this growing crisis.
In March, I asked Sallie Mae to end its unfair practice of charging a fee to private student loan borrowers in financial distress in order to temporarily delay their payments. I am ready to work with Sallie Mae to end this practice. I also urge Sallie Mae to support H.R. 4170, the Student Loan Forgiveness Act, which I introduced to jumpstart the economy by forgiving student loan debt for millions of hardworking Americans. This bill would give many student loan borrowers the opportunity to start new businesses, pursue public service, or buy a house.
College graduates across the country are struggling to pay off historically high rates of student loan debt. I urge Sallie Mae to join me, the United States Student Association (USSA), the Student Labor Action Project (SLAP) and students from across the country in supporting graduates by eliminating forbearance fees and supporting the Student Loan Forgiveness Act."