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Students Protest Debt as Student Loan Debt Collectors Make a Billion

• http://www.commondreams.org
 

Dozens of students were arrested this afternoon at the Sallie Mae headquarters demanding forgiveness of student loans. The protest comes after recent reports show $1 trillion in student debt burdening borrowers.

The high amount of debt is good news for debt collectors, however. A Bloomberg report shows that debt collectors made nearly $1 billion in commissions from aggressivley pursued student loan collection efforts.
 

“Student-loan debt collectors have power that would make a mobster envious,” said Harvard Law Professor Elizabeth Warren.

 

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