The professor-turned-lawmaker talks about why people should care and what Congress should be doing to help ease the burden on borrowers.
UPDATE 5/20/2014 2:40PM EST: There was confusion about this article, which was originally published by ProPublica. Please go to the following link on ProPublica to read the entire article, it’s an interesting interview with Elizabeth Warren on a very important topic.
Full story can also be found here- Q&A: Elizabeth Warren on Spiraling Student Debt and What Should Be Done About It
UPDATED 5/20/2014 3:25PM EST: Below we have some of our own notes from Elizabeth Warren on the topic of student debt/loans
Elizabeth Warren warned in a recent interview with Face The Nation, that a Republican takeover of the Senate will be problematic for students with piles of debt taken out to finance their education. She thinks its vital that the Democrats retake the Senate, and will fight for that goal.
Warren argues that students should be allowed to refinance loans, which the GOP has argued would be another tax hike. She believes that the crisis is not only impacting students, but now hurting the whole economy.
Specifically, Elizabeth Warren notes that from her experience in the Senate, the Government is run by ‘an army of lobbyists and lawyers’. She believes that the people can get rid of the Corporate interests because the voters are not on the side of the interests of the big corporations. While Warren believes that the Obama administration is better than the Bush presidency, both sides are too close to the big banks.
Warren laughs when being told her opponents label her as socialists or populists. She believes that the Government should not be making loans ‘off the backs of students’.