Warren urges Trump administration to 'immediately cease' student loan selloff plans

Sen. Elizabeth Warren, D-Mass., is attempting to stop the reported selloff of the $1.6 trillion student loan portfolio to private companies -- demanding Education Secretary Linda McMahon and Treasury Secretary Scott Bessent quit their reported talks of a potential sale.

"We urge you to immediately cease any efforts to privatize the federal student loan portfolio," Warren wrote in a bicameral letter to the secretaries. "Let's be clear: This sale would be a giveaway to wealthy insiders at the expense of working-class borrowers and taxpayers," the letter reads, adding "It threatens the loss of borrowers' legally guaranteed protections, and the sale would likely be illegal if the debt is sold at a loss for taxpayers."

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