The White House is talking up its actions to reduce the expenses burdening students, including moving to end origination fees on student loans.
While most private lenders have done away with student loan origination fees, the federal government still charges them.
Federal student loan borrowers can face expenses of 1% to 4% of their total borrowing amount.
The White House said on Friday it considers these "junk fees," which it defined as "hidden costs or surprise fees that companies and institutions include on customer or student bills, increasing their costs."
"By eliminating origination fees on federal student loans, borrowers should be able to borrow less to cover their costs," said Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit.
Persons:
Joe Biden, Culver City Julian, Biden, Joe Biden's, Betsy Mayotte, Mark Kantrowitz
Organizations:
Culver City, Culver City Julian Dixon Library, Federal, Consumer, The, Student Loan Advisors, Finance
Locations:
Culver City , CA, California