Mulvaney Lectures Students on Moral Consequences of Failing to Pay Back Student Loans

“This coming from a man who loyally serves a President whose companies have filed for bankruptcy four times to avoid paying their debts!”


WASHINGTON, D.C. – This afternoon, Allied Progress released the following statement responding to reports that Consumer Financial Protection Bureau (CFPB) Acting Director Mick Mulvaney expressed worry about the moral consequences of failing to pay back student loans.

Mick Mulvaney has some nerve to lecture the American people about the moral consequences of failing to pay back their student loans. This coming from a man who loyally serves a President whose companies have filed for bankruptcy four times to avoid paying their debts,” said Karl Frisch, executive director of Allied Progress.

He continued, “He should examine the moral consequences of his own actions — like exposing consumers and our brave men and women in uniform to predatory lenders and other financial scammers — before attacking the character of students who are struggling to get ahead.”

If Mr. Mulvaney wants students to pay back their loans, he should empower the CFPB’s student lending office that he gutted. He should protect them from student loan servicers like Navient and publicly press Betsy DeVos and the Department of Education to quit blocking efforts to hold the company accountable,” he concluded.

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