November 6, 2024 | WASHINGTON, D.C. — In response to the 2024 presidential election results, Student Borrower Protection Center Executive Director Mike Pierce released the following statement:
“President-elect Trump’s dark vision for millions of American families with student debt is as extreme as it is unpopular—dismantling the U.S. Department of Education, undoing hard-fought protections for student loan borrowers, driving millions into the open arms of predatory for-profit schools and private lenders, and leaving millions drowning in student debt. The threat posed by these plans is real and will imperil the financial stability of millions of working families. Making the basics of American life more expensive remains bad policy and bad politics.
“We must not forget that in his first administration, Trump’s Department of Education ignored federal law and refused to cancel the debts of students defrauded by their schools. Trump’s Consumer Financial Protection Bureau adopted a ‘pencils down’ approach, curtailing enforcement and civil penalties against bad actors. When states stepped in to protect their residents from unlawful student loan servicers, the Trump Administration argued that federal law barred them from doing so. Donald Trump and his Project 2025 cronies have made clear that his second administration will build on this harmful track record.
“Forged during the first Trump presidency, the Student Borrower Protection Center will not allow threats to borrowers and their families to go unanswered. We’ll keep doing what we do best—organizing, exposing corruption, and standing up to government officials and corporate interests to ensure that we have an economy that works for all Americans.”
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About Student Borrower Protection Center
Student Borrower Protection Center (SBPC) is a nonprofit organization focused on eliminating the burden of student debt for millions of Americans. We engage in advocacy, policymaking, and litigation strategy to rein in industry abuses, protect borrowers’ rights, and advance racial and economic justice.
Learn more at protectborrowers.org or follow SBPC on Twitter @theSBPC.