Donald Trump, a Republican candidate for president, on Thursday criticized the federal government for earning a profit on the federal student loan program.
“That’s probably one of the only things the government shouldn’t make money off -- I think it’s terrible that one of the only profit centers we have is student loans,” Trump said in an interview with The Hill. He said that college students are “swimming in these loans.”
“I’ll see so many young people and they work really hard for four years,” Trump told the newspaper. “They borrowed money. Their parents don’t have much. They work all together and they mortgage their future.”
Trump’s position aligns with that of Massachusetts Senator Elizabeth Warren, a Democrat, who frequently criticizes the profits the government makes on federal student loans. The Government Accountability Office estimated that the federal student loans given out between 2007 and 2012 are on track to produce $66 billion in profit for the government.
Many Republicans have also called for changes to accounting rules that would result in the federal student loan program being booked as a cost to taxpayers.