Top student loan official at consumer agency quits over Trump policies
(Politico)
By MICHAEL STRATFORD
The Incredible, Rage-Inducing Inside Story of America’s Student Debt Machine(Politico)
By MICHAEL STRATFORD
The top official overseeing student loans at the Consumer Financial Protection Bureau resigned on Monday in protest of Trump administration policies that he said were harming students and families.
Seth Frotman, the student loan ombudsman at the CFPB, said in a letter to acting Director Mick Mulvaney that political leadership at the consumer bureau over the last 10 months had repeatedly undermined efforts by career employees to take action against abuses by student loan companies and for-profit colleges.
"It is clear that current leadership of the bureau has abandoned its duty to fairly and robustly enforce the law," Frotman wrote in the scathing resignation letter, which was obtained by POLITICO. "The Bureau's new political leadership has repeatedly undercut and undermined career CFPB staff working to secure relief for consumers."
Frotman has served as the consumer bureau’s top student loan official since 2016. He initially joined the CFBP when was being created in 2011, working on military service member issues as a senior adviser to Holly Petraeus.
Frotman’s resignation, which is effective Sept. 1, underscores the growing frustration by consumer advocates and Democrats that the Trump administration is dismantling protections for the nation’s more than 42 million student loan borrowers who collectively owe $1.5 trillion….
(Mother Jones)
Why is the nation’s flagship loan forgiveness program failing the people it’s supposed to help?
BY RYANN LIEBENTHAL- SEPTEMBER/OCTOBER 2018 ISSUE