Attorneys General Advising Congress to Scrap Legislation Blocking State Oversight of Student Loan Industry

Attorney General Andy Beshear and a bipartisan coalition of attorneys general sent a letter urging congress to scrap legislation that would block states from combating fraud and abuse by the student loan industry. The coalition is advising Congress to remove language from the pending version of the Higher Education Act reauthorization, H.R. 4508, also known as the PROSPER Act, that will obstruct state oversight of private companies that initiate, service or collect on student loans. Beshear said that protecting Kentucky students from predatory loan companies who seek to mislead them is simply the right thing to do, and Congress must take immediate action and join their coalition in standing up for students.

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