One way to track how much debt your city and town is in, is to know what your share of it is. Interactive Map "
By chrisraia Published: Saturday, February 1, 2014, 1:33 pm
PROVIDENCE, R.I. (AP) - Rhode Island U.S. Sen. Jack Reed says he is shocked that the federal government earned an estimated $66 billion in profit from student loans originated between 2007 and 2012.
Reed was reacting to a government report that revealed the profit Friday. A previous congressional report estimated that the government will pocket an additional $185 billion in profits on new student loans made over the next 10 years.
Reed said Saturday that the new report makes clear that congress must do a better job of pricing students loans closer to the actual cost to the government.
Reed and eight other U.S. senators committed to wring government profits out of student loans and address the $1.2 trillion in outstanding student loan debt they say is crushing families and putting a strain on the economy.
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