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College and University Tuition Cost and Student Debt

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Seth Frotman—the Consumer Financial Protection Bureau’s “student loan ombudsman”—resigned from his position today, saying that the Trump administration operates against the interests of  borrowers.  In his resignation letter addressed to the CFPB’s acting director, Mick Mulvaney, Frotman writes “You have used the bureau to serve the wishes of the most powerful financial companies in America.  The damage you have done to the bureau betrays these families and sacrifices the financial futures of millions of Americans in communities across the country.” The CFBP has scaled back student-loan enforcement work and has revised many of the Obama-era rules and regulations to support the Trump administration and Education Secretary Besty DeVos proposed reforms on student loan forgiveness policies.

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