WASHINGTON, D.C. -- After a new GAO report shows the federal government received $66 billion in profits on student loans between 2007 and 2012, U.S. Senator Kirsten Gillibrand released a statement.
Senator Gillibrand has repeatedly called for allowing millions of graduates and borrowers currently repaying their federal student loans the ability to refinance at a lower interest rate.
"What today's report clearly shows is that while these graduates struggle to get their heads above water, the federal government is putting a priority on $66 billion in profits over their futures, which is just wrong. Our role in government should be helping future generations enter the middle class and thrive through a quality education, not sustaining a huge profit center on their backs," said Senator Gillibrand.