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Nation's top student loan official resigns, citing White House hostility

10 months 3 weeks 3 days ago Monday, August 27 2018 Aug 27, 2018 August 27, 2018 9:55 AM August 27, 2018 in News
Source: Associated Press
By: Associated Press

NEW YORK (AP) - The nation's top government official overseeing the $1.5 trillion student loan market is resigning, citing what he says is the White House's open hostility toward protecting student loan borrowers.

Seth Frotman will be stepping down from his position as student loan ombudsman at the end of the week, according to his resignation letter which was obtained by The Associated Press. He held that position since 2016. In his resignation letter, Frotman called out Mick Mulvaney specifically, who is President Donald Trump's acting director of the bureau.

Under Mulvaney, the bureau has step backed its enforcement of student loans and other financial services. Frotman said in his letter that the bureau has "abandoned the very consumers it is tasked by Congress with protecting."

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