Image: Lots of uncertainty is ahead for student borrowers, with loan repayments scheduled to restart in October and two loan servicers announcing their federal contracts will be over at the end of the year. That means now is the perfect time to wipe the slate clean and start over, say those frustrated with the administration of the student loan system. The need to take advantage of the “rare opportunity for a fresh start” was a common theme of the comments made by lawmakers and witnesses during a Senate Banking, Housing and Urban Affairs subcommittee hearing held Tuesday on protecting student borrowers. Senator Elizabeth Warren, a Massachusetts Democrat who is chair of the economic policy subcommittee, said in her opening remarks that with the student loan program at a crossroads, it must be rebuilt to work in the best interests of borrowers. “This is our best chance in years to build strong guardrails into student loan servicing contracts and to hold student loan serv...
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