I’m writing to urge you to oppose any move by the Trump regime to privatize or sell off federally held student loans. This plan would turn the futures of millions of Americans into a Wall Street investment product — and it comes at a time when the Consumer Financial Protection Bureau has been stripped of much of its power to protect borrowers.
Selling federal student loans to private investors would wipe out vital protections like income-based repayment, forgiveness programs, and hardship relief. Once these loans are in private hands, collection practices will become profit-driven, not people-focused. Borrowers would be hounded for payments, interest rates could rise, and the same kind of predatory lending that caused the 2008 crash could return unchecked.
It’s one thing to tighten budgets; it’s another to sell out Americans trying to better themselves through education. Strong nations invest in their citizens. We can promote responsibility without handing over our children’s debt to corporate speculators who care more about quarterly returns than the country’s future.
Congress must act now to prohibit the sale or privatization of federal student loans, restore full consumer-protection oversight, and ensure that higher education remains a ladder up — not a trap. Protecting hard-working Americans from exploitation should never be a partisan issue.
First sent on October 13 by Coleman
