Elizabeth Warren

Sen. Elizabeth Warren, D- Mass., listens to testimony on Capitol Hill in Washington on Nov. 12, 2013. (AP Photo/Jacquelyn Martin, file)

(Photo by Jacquelyn Martin / Associated Press [File])

BOSTON (AP) — U.S. Sen. Elizabeth Warren says she's shocked the federal government earned about $66 billion in profits from student loans originated between 2007 and 2012.

The Massachusetts Democrat was reacting to a government report Friday. A previous congressional report estimated the government will pocket an additional $185 billion in profits on new student loans made over the next 10 years.

Warren said Saturday the latest report shows the government is squeezing profits out of young people and adding to the mountain of debt they will spend the rest of their lives struggling to repay.

Warren and eight other U.S. senators committed to wring government profits out of student loans and address a $1.2 trillion in outstanding student loan debt they say is crushing families and putting a strain on the economy.