STATEMENT OF U.S. SENATOR MIKE ENZI, R-WY: “Second Report on Marketing Practices in the Federal Family Education Loan Program”

Washington D.C. – U.S. Senator Mike Enzi, R-WY, Ranking Member of theSenate Health, Education, Labor and Pensions Committee (HELP Committee),issued the following statement in response to the “Second Report on MarketingPractices in the Federal Family Education Loan Program,” a report prepared bythe Chairman’s staff of the Senate HELP Committee and released today: “I am disappointed that this report, which is built on vague, inconclusiveevidence and poorly-documented allegations, is taking up the Senate’s time - when weshould be moving forward to get final approval of the bipartisan Higher EducationAmendments act - as House Democrats continue to find hollow excuses to delay actionon ridding the student lending industry of bad actors.” While I agree with Chairman Kennedy that we must strictly enforce theprovisions of the Higher Education Act to protect families and students from shady loanpractices, this poorly-prepared report offers no new solutions – only allegations. Itsimply plows the same old ground, and won’t stop bad lenders from taking advantage ofstudents and working families. The Senate’s bipartisan HEA renewal, however, contains real reforms to root outbad actors in student lending, protect students borrowing money and takes steps to ensurethat students and parents receive sound, honest advice about their student loans. Inaddition its provisions will require that students and parents have access to informationthey need to understand and manage their debts. As many students go back to school this week, I hope Congress can get back towork with a renewed focus on passing bipartisan legislation to help students and theirfamilies get the financial assistance they need for education and training that will helpthem remain competitive in today’s global economy and excel in the career of thechoice.” # # #