Congressman: My Plan Would Reduce Student Loan Defaults: Video

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Dec. 14 (Bloomberg Law) -- Congressman Tom Petri (R-Wis.) says his proposal to have employers deduct student loan payments automatically from paychecks would reduce the number of graduates who default on their loans and rack up large fees to collection agencies. His plan is modeled on one in the UK, Australia and New Zealand.

The Harvard Law School graduate, speaking with Bloomberg Law's Spencer Mazyck, says that many law schools today are See more +

Dec. 14 (Bloomberg Law) -- Congressman Tom Petri (R-Wis.) says his proposal to have employers deduct student loan payments automatically from paychecks would reduce the number of graduates who default on their loans and rack up large fees to collection agencies. His plan is modeled on one in the UK, Australia and New Zealand.

The Harvard Law School graduate, speaking with Bloomberg Law's Spencer Mazyck, says that many law schools today are charging too much, even though many provide scholarships for low-income students.

(Source: Bloomberg) See less -

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Topics:  Department of Education, Law School, Student Loans, Wages

Published In: Administrative Agency Updates, Education Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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