Consumer advocates and Democrats have accused the Education Department under the Trump administration of failing to clamp down on student loan companies and for-profit colleges accused of preying on students. About 92 percent of student debt is owed to the federal government, which contracts with nine servicers, including companies such as Nelnet and Navient, to handle those student loans.
Both Democrats and Republicans on the House Financial Services Committee agreed there are systemic problems within the student loan industry, and House Financial Services Chair Maxine Waters, D-Calif., said lawmakers are discussing a series of bills, including creating a comprehensive borrower bill of rights and helping borrowers purchase first homes.
"This is a crisis, but a crisis that Congress created and foisted upon a generation," he said, adding that laws need to be reexamined but that student lending is not within the Financial Services Committee's jurisdiction.
This is a greedy nation...who is sec of ed?
usa becoming a socialist economy everything free charity above all
Garbage, I am all for making the loans no interest for 10 years, with nominal interest after that. Then increasing each year you fail to pay it off! Theh chose to take the loan, the rest of us should not have to pay for their financial incompetence!
gdfuego Wowza! He’s right! If government can socialize bank debt (based on greed), they can socialize student loan debt (based on workforce requirements). Go Warren!
Perfect argument for those ppl that use the argument 'if I'm paying for my student loan of 25yrs ago so should you'.
Not funny
My god, I respect this man SO MUCH!!!
Wow! Speechless
We shouldn’t have to go bankrupt paying medical bills either but we do. Every day.
Scrolling through the comments to see all of the old people who say 'just don't take out loans' makes me want to scream. None of you has any idea what you're talking about.
Why is it that common sense observations like this cannot be bipartisanly addressed? Oh it’s because Trump and GOP leaders are bought and paid for by lobbyists to do just the opposite of what is needed by average Americans.
These comments sure are refreshing.
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They made an agreement to take on and accept that dept. They were not forced to do it. Now you want ALL Americans including those who did not attend college, to pay for all those who did? It’s absolutely & unequivocally absurd!! ABSURD and totally unfair. But then so are leftists
Just for show, politicians wouldn't even lift a finger on this issue! Get out there learn trades, don't be in a repetitive careers AI will take over!
I buy something, I know the price, I pay for it. Why does this generation think they should get it for free. *I went to college in my 40s*
I’m with him except the comment “have to”
Have to invest in America’s future, young people. I had excellent financial college aid 50 years ago, more grants than loan. Starting with Reagan, grants were reduced. Vote Progressive to ensure U.S.’s place in future worlds economy.
The lesson should be that life is not fair so not everyone should go into debt pursuing higher education if they cant afford it.
People shouldn't get useless degrees either. If your degree isn't going to help you get a job then maybe you should have pick something different. For that fact college is now nothing more than an indoctrination facility. People pay to have their kids minds warped.
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My father in the fifties worked his way and paid as he went to collage to become an optometrist. That's the difference, wage growth never kept up with tuition and everything thing else for that matter.
The same people who think there should be a bailout on student loan debt, & offer free college; are the same against vouchers for good students in failing schools to attend the school of their choosing.
Sad part is, this is not just in the U.S. this is also happening in the netherlands and a lot of other countries. Students here have to go to schools and pay it all back. The avarage debt here is 60k
So you want me to pay for my boss’ education?! Sounds like something only a Democrat would do!
Any person who believes in paying off the student loan of their college educated boss, who makes more than them while having the pleasure of ordering them around, needs to go to college themself!
katherineislay Paying off student debt would cost no more than our F-35 Program and would be a huge boost to our Economy! It is also no more than the Deficits in fact less due to Trump's Tax Cut for the Super Rich and Corporations who used it to buy back stock!
Bravo!!!
Don’t get a useless ass degree and you won’t have a problem, plain and simple
edoswald Truly the new Jon Stewart. He definitely should have been picked for Daily Show lead instead of Trevor Noah.
Don’t take out loans you can’t pay back
Unpopular opinion: if you signed a contract to take out a loan not under duress and had no plan to pay it back, it's your fault for the increasing amount you owe
Brilliant!
His argument that the federal government stepped in to save the banks when they failed and now should come to the aid of millions of students is the best I've yet heard!
Honestly never heard of him. He had some funny lines
Sorry, but I paid my loans back. I did not get the loan, drop out and use the money for a down payment on a car or go blow it. PAY IT BACK!
It would be easier to just bring back the draft and let those who served use the GI bill.
Go after the schools if anything. Not the loans.
The big problem is that plenty of people graduated with useless degrees and plenty of them had no business attending college. In addition some professors are overpaid to teach worthless courses like Women and African American studies.
You put your money in the things you deem important. hasanminhaj is simply stating economics101. Education is an investment, so there is no guaranteed ROI, but America needs skilled laborers and degreed people. The global economy demands exceptionalism.
You take a student loan you should be responsible to pay for it, work hard save money and quit wasting your money on Starbucks.
Two clowns...Minhaj and MaxineWaters
Propaganda bs for the Democrats
The idiocy of the comments here are amazing. They’re on board for millionaires and billionaires getting massive tax refunds, but college graduates struggling to get by because of massive student loan debt shouldn’t get any help
Don’t get the cause?
Too damn bad. Don’t sign up for money you can’t pay back.
I got a PhD in 2017 with zero debt and zero family help. So yeah, you don't have to go bankrupt.
Nobody forced them to take loans.
Gotta pay ewarren's hubby's $400,000 a year salary somehow!
If you can't repay a loan, don't accept a loan, so easy.
For profit universities are equivalent vocational education.
Who controls what Colleges and Universities charge for tuition?
Is he a subject matter expert? Why in the world does he get to speak in front of Congress?
You don’t have the right to give away my tax dollars. It is a LOAN.
people paid far less in student debt because the gov't wasn't involved. He understands that gov't is responsible for the rise in student loan debt not sure why I should pay for the gov't mistake with my tax dollars
I know that's right, The Government already bailed us out along with the Banks, and we owe nothing!
Any idea what happened when the government took over the student loan business?
Ya stop paying the professors so much money.
And they thought it was free Hmmmm
I agree. Give them 0% loans but you can't just wipe their shit out. They need to pay for their loans.
realDonaldTrump POTUS WhiteHouse agree with very many members of Congress that the StudentLoanDebts involving 45 million Americans, old & young, deserve very good and permanent solutions. Fix StudentLoanDebt burden; Zero out all Interest rates. StudentLoans StudentLoan
Go to community college, join the military. Then work and go to college part time. That is how many folks did it. College now for many folks is like going to summer camp for four years.
Or perhaps higher education should really be education, not indoctrination? Or students should make better choices when choosing a degree or school? LunaticLeft LiberalismIsAMentalDisease
Why does college have to be 4 years let's Get real the first two years are a joke. Also why are saying college is the end all. A plumber, electrician make more the most college grades.
Americans have a right to pursue higher education. There is no right for it to be free.
The victim comedy did not work.
If you want to pursue your dreams but don't have the cash, do a trade, save your money, then pursue your degree. I know s/emp teenagers t/o $1mill plus in the building industry. Four motivated mates starting w/ $10k worth of equipment can be very well off within 3 years.
I am paying for my kids college education. I SHOULDNT HAVE TO PAY FOR SOMEONE ELSES THAT HAS MADE BAD LIFE CHOICES. HouseDemocrats HouseGOP SenateDems SenateGOP
Take it up with colleges who over-charge & professors who are over-paid.
In the hierarchy of who should be lecturing people comedian ranks at the bottom
Love this!
Pay you debts
But they got money for a new iPhone every year.
They agreed to those loans ... make them pay it back .. I had to pay for mine, so should they
So, its funny, I didnt go to college, party and rack up 10K in expenses on moms credit card, but you want me to pay YOUR bill. You really didnt learn anything did you? Oh, yeah, communism, cause its my fault that I went to work out of HS. Work hard, find a way and quit bitching.
These universities are thieves.
College is a big SCAM in the US.
You need to insert the laugh track. I have no idea when he is “funny.” Pay your bills kids. Remember if you borrow something, you are obligated to return it.
YES!! You should VOTE Democrat & ask for handouts! It’s easier than working!
Nope
I think the overwhelmingly overlooked fact from hasanminhaj ‘s opening statement is that COLLEGE IS 110% MORE EXPENSIVE TODAY THAN IT WAS WHEN ALL THOSE OLD BABY BOOMERS WENT TO SCHOOL. And I’m willing to wager many of them went to school for free or close to it. sociopaths
So the msg here is for me to keep driving a truck, pay taxes, so that ppl who probably have more money than I, won't have to pay their kids tuition....so that they don't have to drive a truck.
When kids realize they can bank on the government, getting their money's worth won't be of their concern and the universities, knowing Big Brother will pay, will jack up tuition fees.
A lot of kids actually work their way through school instead of partying. That’s the way I and thousands of others did it, and many still are
And you made the conscious choice to take on debt to attend a school you couldn't afford. Be a man! Pay your own damn debt.
But how will the GOP afford tax cuts for the wealthy?
It's an issue that Liberal Democrats politicians created Majority of Academia are Liberals with a salary of 6 digits Now the Entertainment arm of the Democrat party are using it as a campaign issue? Students graduated jobless & in debt Devaluing the actual education system
Awesome, Hasan is the best.
Pay your bills or go into default. Your choice, holmes.
If Americans are going bankrupt pursuing higher education, then clearly higher education is not as valuable as you think it is
Americans should not have to go bankrupt bailing out others
. If I go bankrupt on my home loan... I lose my house. Same should apply to student loans... lose your credits and degree. .
Two questions...1) why is a comedian before Congress on this issue? 2). Why should I have to pay for someone else to got to college when I couldn’t afford it and so did not go?
I owe about $75000 for 3 children.
Colleges should really tell prospective students what costs are before they enroll 🙄
Lazy people
In the replies, a bunch of people who also paid far less for college than today’s students do and didn’t enter a job market that doesn’t reflect the cost of education.
It’s an obligation. Honor it.
Where exactly is the outrage at universities for charging so much !
Pay your bill you millennial deadbeats
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Thank you Uncle Sam for the capitol. 🦅🇺🇸
15 seconds in and it is cringeworthy
They don't have to. They choose to...
realDonaldTrump never had a student loan, so he won’t understand...by extension Republicans won’t understand
It’s the student’s choice to take on the debt.
Makes a hell of a case for apprenticeship doesn’t it?
He literally did a entire episode on it
Politicians becoming jokes, comedians becoming serious politicians.
You dont need college to be a comedian.
Here’s an idea! Don’t sign up for a school you can’t afford!!!!!!
PapaCarredon32 😆
The choice of which college a person attends and how much that college might cost is a choice that student makes. There are many great local colleges that cost far less and provide the same if not better education. It's not my fault they made the choice.
Why dont you just go ahead and forgive mortgages and car payments as well
Getting a loan is a voluntary act (right)? The cost of higher education is out of control due to guarantees on these loans from the federal federal government. These individuals signed a contract and should repay their full debt.
If students aren't smart enough to know what the cost of college is going to be they shouldn't enroll
Congress should not forget the StudentDebt that is being paid by parents who promised their children a college education. The PLUS loans are oppressive, especially on seniors, with high interest, and no forgiveness for interest accrued during deferred payment for unemployment.
fighting socialism with more socialism... yeah, that’s a great idea.
Wow.
The problem I have with this is that many Americans opted out of an expensive college education to work blue-collor jobs. Now these hard working, middle-class workers will be forced to pay the bills for those who greedily gambled their future away thinking they’d be millionaires
Colleges are a breeding ground of liberal ideas and anti American rhetoric.
grow up and take responsibility for your own personal choices. people who may not have been able to afford it for themselves should not have to pay for you.
While I would like qualified students to have low cost access to trade schools or colleges, I remember how hard I worked to get through with little debt, how I paid off my mortgage in 15 years and have no credit card debt. Would I have accomplished all that after a free ride?
My loan is $430 a month for 25 years. Paying Until I’m 46
They’re acting like deadbeats looking for a handout to pay for their bad decisions. Chalk it up as a learning experience and figure it out. The job market is booming, better get cracking.
State school tuition costs about $11k per year. Median student loan debt is ~$22k with a monthly payment around $200
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