{"id":23891,"date":"2026-02-03T14:44:42","date_gmt":"2026-02-03T19:44:42","guid":{"rendered":"https:\/\/www.merkley.senate.gov\/?p=23891"},"modified":"2026-04-21T14:20:27","modified_gmt":"2026-04-21T18:20:27","slug":"merkley-wyden-colleagues-release-report-of-how-private-student-loan-lenders-expect-to-profit-from-trumps-big-ugly-bill","status":"publish","type":"post","link":"https:\/\/www.merkley.senate.gov\/es\/merkley-wyden-colleagues-release-report-of-how-private-student-loan-lenders-expect-to-profit-from-trumps-big-ugly-bill\/","title":{"rendered":"Merkley, Wyden, Colleagues Release Report of How Private Student Loan Lenders Expect to Profit from Trump\u2019s Big Ugly Bill"},"content":{"rendered":"\n

Report: \u201cCostly Consequences: How the Trump Administration Unleashed Private Student Loan Lenders\u201d (PDF)<\/em><\/a><\/p>\n\n\n\n

Responses from:\u00a0<\/em>Citizens<\/em><\/a>\u00a0|\u00a0<\/em>College Ave<\/em><\/a>\u00a0|\u00a0<\/em>Navient<\/em><\/a>\u00a0|\u00a0<\/em>Nelnet<\/em><\/a>\u00a0|\u00a0<\/em>Sallie Mae<\/em><\/a>\u00a0|\u00a0<\/em>SoFi<\/em><\/a><\/p>\n\n\n\n

Washington, D.C. \u2013 Oregon\u2019s U.S. Senators Jeff Merkley and Ron Wyden joined a group of Senators in releasing a new report of their investigation into how private student loan lenders will reap the benefits from cuts to federal student loan access enacted in Republicans\u2019 One Big, Beautiful Bill Act (OBBBA)<\/em>. The report was led by Senator Elizabeth Warren (D-MA), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and is the first congressional analysis of the impacts of the OBBBA<\/em>\u2019s student loan restrictions on the private lending market.<\/p>\n\n\n\n

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\u201cThe Republican vision of \u2018Families Lose, Billionaires Win\u2019 is leading to less affordable student loan repayment options and a higher risk of folks falling victim to predatory lending, which overwhelmingly harms working families,\u201d said Merkley<\/strong>. \u201cAs private lenders prepare to cash in on this disastrous agenda, our report makes clear that urgent oversight is needed to protect borrowers and ensure they can access affordable higher education for generations to come.\u201d<\/p>\n<\/blockquote>\n\n\n\n

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\u201cThis report shows in painful detail how Donald Trump and his Republican groupies in Congress deserve a big F for their economic assault on students working hard for a fair shot at an education,\u201d said Wyden<\/strong>.  \u201cPredatory private student loans plus worse loan repayment terms produced by this Republican bill add up to financial abuse that demands congressional oversight.\u201d <\/p>\n<\/blockquote>\n\n\n\n

Republicans\u2019 OBBBA <\/em>set new caps on federal student loan borrowing for graduate students and others, paving the way for a significant expansion of the private student loan market. The private student loan market currently accounts for approximately 8 percent of student loan debt, but represents more than<\/a> 40 percent of student loan-related complaints submitted to the Consumer Financial Protection Bureau. The Senators pressed six major private student loan lenders, Citizens, College Ave, Navient, Nelnet, Sallie Mae, and SoFi\u2014which, combined, lent over $14.7 billion via private student loans in 2024\u2014to provide details on their policies, lending activity, and future plans related to OBBBA<\/em>. The investigation found that:<\/p>\n\n\n\n