Senator Durbin Seeks to Protect Student Loan Borrowers

The turmoil in financial markets may hurt student loan borrowers. Some members of congress are concerned:

U.S. Senator Dick Durbin (D-IL) today asked Treasury Secretary Henry Paulson, Jr. to take a number of steps to ensure that students are protected in any plan to use federal relief funding to aid for-profit lenders of private, non-federal student loans. Durbin also expressed serious concerns about the ethics and practices of lenders who offer private, non-federal loans to students citing instances where lenders have taken advantage of students.

Read the report at WKYX.