"Second Report on Marketing Practices in the Federal Family

Statement

"Second Report on Marketing Practices in the Federal Family
Education Loan Program"

U.S. Senator Mike Enzi, R-WY, Ranking Member of the Senate Health, Education, Labor and Pensions Committee (HELP Committee), issued the following statement in response to the "Second Report on Marketing
Practices in the Federal Family Education Loan Program," a report prepared by the Chairman's staff of the Senate HELP Committee and released today:

"I am disappointed that this report, which is built on vague, inconclusive
evidence and poorly-documented allegations, is taking up the Senate's time - when we should be moving forward to get final approval of the bipartisan Higher Education Amendments act - as House Democrats continue to find hollow excuses to delay action on ridding the student lending industry of bad actors."

While I agree with Chairman Kennedy that we must strictly enforce the
provisions of the Higher Education Act to protect families and students from shady loan practices, this poorly-prepared report offers no new solutions - only allegations. It simply plows the same old ground, and won't stop bad lenders from taking advantage of students and working families.

The Senate's bipartisan HEA renewal, however, contains real reforms to root out bad actors in student lending, protect students borrowing money and takes steps to ensure that students and parents receive sound, honest advice about their student loans. In addition its provisions will require that students and parents have access to information they need to understand and manage their debts.

As many students go back to school this week, I hope Congress can get back to work with a renewed focus on passing bipartisan legislation to help students and their families get the financial assistance they need for education and training that will help them remain competitive in today's global economy and excel in the career of the choice."

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