“Every 28 seconds of everysingle minute of every single hour of every single day, a studentdefaults on their loan,” Frotman said. (Photo:Shutterstock)
(Bloomberg) –Seth Frotman oversaw the $1.5 trillion student loan market for the Trumpadministration. In August, he quit in a verypublic way, protesting in a widely circulated resignation letterwhat he called the White House's open hostility toward the nation'smillions of student loan borrowers. Now he's starting his ownwatchdog group to do what the government won't, and he's poachingformer colleagues to do it.
Having spent seven years with Consumer Financial ProtectionBureau, three of them as student loan ombudsman, Frotman said hedrove policy reform that returned $750 million to wrongedstudent borrowers.
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