Office of Management and Budget Director Mick Mulvaney testifies before a House Appropriations Committee hearing, April 18, on Capitol Hill in Washington, D.C.. The Trump administration is signaling that it intends to pull back on investigating potential abuses by companies in the $1.5 trillion student loan market. The Consumer Financial Protection Bureau is shuttering its student lending office, according to an announcement May 9, by Mulvaney, its acting director. Its responsibilities are being moved under the broad umbrella of “financial education.” (Manuel Balce Ceneta/Associated Press file photo)

Office of Management and Budget Director Mick Mulvaney testifies before a House Appropriations Committee hearing, April 18, on Capitol Hill in Washington, D.C.. The Trump administration is signaling that it intends to pull back on investigating potential abuses by companies in the $1.5 trillion student loan market. The Consumer Financial Protection Bureau is shuttering its student lending office, according to an announcement May 9, by Mulvaney, its acting director. Its responsibilities are being moved under the broad umbrella of “financial education.” (Manuel Balce Ceneta/Associated Press file photo)

Editorial: State ready to take on student loan watchdog role

With a federal agency hamstrung, it’s lucky the state passed a student loan bill of rights this year.

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