Senator Lamar Alexander Remarks on Student Loan Debt

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.