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Ex-student loan official: ‘We dropped a trillion dollars of debt into the market’ with little thought to oversight

We’ve been talking about America’s student-loan problem all wrong, according to the former top student-loan official in the country.

Seth Frotman, who resigned in protest earlier this year from his role as the Consumer Financial Protection Bureau’s student loan ombudsman, made the case Thursday that solving our nation’s student-debt challenges requires acknowledging policy makers’ and company executives’ role in creating it.

In his speech, Frotman painted a picture of a crisis built on policy makers’ choices. He highlighted how state officials cut funding for public higher education, pushing up prices and requiring students to increasingly rely on debt to finance college.

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