Senate Health, Education, Labor, and Pensions Committee Chair Lamar
Alexander (R-TN) speaks about the reauthorization of the Higher Education Act,
which he said should be ready for committee consideration in September.
He also speaks at length about college affordability and reform to the
student aid process. The Department of Education estimates that seven
million federal loan borrowers (17 percent) are currently in default on
their loans to the tune of $106 billion. That's nine percent of the
current total outstanding balance of student loans. Senator Alexander
outlines five steps that the federal government can take to mitigate
this in the future.
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