A.G. Fox: Don't Cut States Out Of Student Loan Oversight
Montana Attorney General Tim Fox has joined 29 other state attorneys general in imploring federal legislators to maintain state level consumer protections on student loans.
The attorneys general sent congressional leaders a letter asking them to reject the piece of the so-called PROSPER Actthat would limit states’ jurisdiction in student loan matters.
"It’s very troubling that anyone would sponsor a bill in the United States Congress that would cut the state's top law enforcement officers and consumer protection officers out of the ability to protect their citizens," says Fox.
He says states can best protect students against private organizations that defraud them with misinformation about program costs and education outcomes, but keep students on the hook for repayment. The current bill would make student loan organizations immune from state licensing requirements or law enforcement.
The letter was headed by the attorneys general of New York and Colorado and follows a previous bipartisan effort on student loan issues last fall.
Copyright 2020 Montana Public Radio. To see more, visit Montana Public Radio. 9(MDIyMjUyODczMDE0NTMzMDcxODE2NTgwYQ000))