‘The federal government is making profits off the backs of our students’

As lawmakers and advocacy groups continue to push for $50,000 in student debt cancellation, Senate Majority Leader Chuck Schumer expressed shock over the interest rates that borrowers are being charged by the government.

“The federal government is charging our students and those who have student debt 7% interest,” Schumer (D-NY) said during a press conference organized by Student Debt Crisis, an advocacy group. “You know, I’m from Brooklyn, I’d use a curse word before that 7% … can you…

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