Conn. US senators blast student loan profits

HARTFORD, Conn. — Connecticut U.S. senators on Saturday criticized the federal government for earning an estimated $66 billion in profits from student loans originated between 2007 and 2012, saying it is wrong for the government to benefit from the struggle of young people to deal with escalating college costs.

U.S. Sens. Richard Blumenthal and Chris Murphy, both Democrats, were reacting to a Government Accountability Office report Friday. A previous Congressional Budget Office report estimated the government will pocket an additional $185 billion in profits on new student loans made over the next 10 years.