ASLP Supports House Passage of Student Loan Bill

WASHINGTON—Kevin Bruns, executive director of America's Student Loan Providers, this afternoon applauded the central principles of H.R. 890, the Student Loan Sunshine Act, calling its passage an "important step by Congress in crafting legislation that will strengthen the public’s trust in federal student loans." His brief statement follows:

"America’s Student Loan Providers feels strongly that Congress should act quickly to pass legislation that will help bring more transparency to the financial aid process and that the House’s passage of H.R. 890, the Student Loan Sunshine Act, is an important step by Congress in crafting legislation that will strengthen the public’s trust in federal student loans.

"The central tenets of the bill passed today, coupled with initiatives already underway by many of our members, will help guide student loan marketing so that questionable practices are eliminated. We’re hopeful that Congress will work with the student loan community and other stakeholders to perfect the bill so that the transparency it achieves ultimately helps students and parents."

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America’s Student Loan Providers represents 87 of the nation’s leading private, nonprofit and state-based education and financial organizations that provide guaranteed student loans through the Federal Family Education Loan Program. By leveraging private financial markets and competing for the right to lend to students, ASLP members offer low-cost loans to millions of students and superior levels of service to most of the approximately 5,000 postsecondary institutions that participate in FFELP. More information is available at <http://www.aslp.us/> www.aslp.us or call 202.721.1190.