Sen. Warren spars with student lender over loan rates

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On Friday, Warren sent a letter to the CEO of the lender, accusing Sallie Mae of “piling on” government supported benefits while reaping “big fees” from students.

“While Sallie Mae is finding unique ways to profit from government programs, its borrowers are paying interest rates that are far in excess of the low cost of funds supported by the U.S. taxpayers,” she wrote.

Warren's letter is part of a lengthy back and forth between the freshman senator and the student lender. What began as an inquiry into a low-interest line of credit Sallie Mae received from a government-created bank that primarily exists to support housing has broadened into a critique of high student loan interest rates in general.

Read more on The Hill.