South Bend Tribune: Loan Reform Needed

A student at the University of Indiana published this op-ed in an Indiana paper supporting the Consumer Financial Protection Agency.

High-cost, unregulated private student loans are just one example of why we need a strong Consumer Financial Protection Agency. U.S. Sen. Evan Bayh, D-Ind., sits on the Senate Banking Committee and is a key vote to create a robust new watchdog that would keep an eye on the loan market for students, and set strong rules for fairer private student loan marketing and terms.

As someone who will graduate with about $70,000 in private loan debt from Indiana University Bloomington, I urge the senator to create the CFPA.

I entered college intent on getting a business degree, to make the big bucks, but now I’ve set my sights on a career in public service. My education at IU helped mold my political and social views in important ways and helped reform my priorities. I am deeply grateful for it.

Read the full op-ed.