Senators Want Colleges To Protect Students From Themselves
WASHINGTON – Seeking to cut higher education costs for middle-class families and make college more affordable for American students, U.S. Senators Chris Murphy (D-Conn.), Jack Reed (D-R.I.), Richard Durbin (D-Ill.), and Elizabeth Warren (D-Mass.) are leading the charge to help reduce student loan debt and protect students from the crippling burdens of student loans. The senators are introducing the Protect Student Borrowers Act to make institutions of higher education more accountable for student indebtedness by requiring them to assume some of the financial risk of student loan default based on the percentage of their graduates and former students who default on their loans. The legislation will also provide incentives and support for institutions to assist their students to effectively manage their…