June 25, 2021

Business Insider: Elizabeth Warren said a student-loan CEO gave false information to Congress. A Republican senator agreed.

As chair of the Senate subcommittee on economic policy, Elizabeth Warren in April invited the CEOs of the country's major student-loan servicers to testify on the impact of student debt on borrowers.

She, and the subcommittee's Republican ranking member, John Kennedy, say that one of them may have given false testimony.

On Wednesday, Warren and Kennedy sent a letter to Pennsylvania Higher Education Assistance Agency (PHEAA) CEO James Steeley regarding "what appear to be false and misleading" statements from his testimony during the hearing. PHEAA administers the Public Student Loan Forgiveness (PSLF) program, which forgives student loans for public services workers after 120 monthly qualifying payments.


Read the full article here.

By:  Ayelet Sheffey
Source: Business Insider