Congressman: My Plan Reduces Student Loan Defaults

Dec. 14 (Bloomberg Law) -- Congressman Tom Petri (R-Wis.) says his proposal to have employers deduct student loan payments automatically from paychecks would reduce the number of graduates who default on their loans and rack up large fees to collection agencies. His plan is modeled on one in the UK, Australia and New Zealand. The Harvard Law School graduate, speaking with Bloomberg Law's Spencer Mazyck, says that many law schools today are charging too much, even though many provide scholarships for low-income students.

Polls Got the French Election Mostly Right
50:36 - Centrist Emmanuel Macron and far-right nationalist Marine Le Pen won the first round of the French presidential election, triggering a runoff on May 7 between two radically different visions of the country’s future. Bloomberg's Markus Karlsson reports on "Bloomberg Daybreak: Asia." (Source: Bloomberg)
  • Saudi Arabia Plans More Bond Sales
  • UN Secretary-General Antonio Guterres on Climate, Syria
  • Guterres Says Common Interest Is to Stop Syrian Conflict