Meet 5 Big Lenders Profiting From the $1 Trillion Student Debt Bubble
So just who are the lenders profiting from the massive student debt load?
You already know some of the names: JP Morgan Chase, U.S Bank, Citi, Bank of America. Others are non-bank student lenders. What all of them have in common, though, is that their practices are shrouded in secrecy. A recent release from the Consumer Financial Protection Bureau, the brainchild of now-Senate candidate Elizabeth Warren, called for an investigation into the industry:
"It has been operating in the shadows for too long," Raj Date, the Treasury Department adviser who is running the Consumer Financial Protection Bureau, said in a release. "Shedding light on this industry will benefit students, lenders, and the market as a whole."
Here, we take a look at five of the lenders raking in the cash off the backs of the U.S.'s students.
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