Advocacy Memos/Issue Briefs Page 2

Memos/Issue Briefs

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Older Borrower Voices on the Incomplete Promise of Relief through IDR

This memo highlights how an Income-Driven Repayment (IDR) fix will only provide relief to older borrowers with decades-old loans if it provides credit towards relief for time in default, forbearance, and deferment.

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PHEAA Borrower Voices on the Incomplete Promise of Relief through IDR

This memo details how borrowers such as those whose loans have been serviced by the Pennsylvania Higher Education Assistance Agency (PHEAA), also known as AES and FedLoan Servicing, will still be left behind if fixes to Income-Driven Repayment (IDR) do not provide credit towards loan forgiveness for borrowers’ time in...

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Nelnet Borrower Voices on the Incomplete Promise of Relief through IDR

This memo describes how borrowers whose loans are serviced by Nelnet have suffered from the industry's harmful practices, in particular when it comes to Income-Driven Repayment (IDR) options.

December 20, 2021

States on the Frontlines of Student Borrower Legislation and Advocacy in 2021

After four years of leading the fight to protect student loan borrowers, 2021 has seen states across the country continue to take steps to deliver protections and hold companies harming borrowers accountable.

August 19, 2021

Legal Analysis, and Need for Increased Enforcement, of the Student Loan Sunshine Act

In a memorandum, Sabita Soneji and Leora Friedman of Tycko & Zavareei, LLP outline the legal tools available to hold bad actors accountable for an ongoing scheme to drive students toward predatory private credit.

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Income Share Agreements and Liability for Servicing Unenforceable Debt

This memo explores how state law may render many ISA companies’ contracts unenforceable, and how the continued servicing of voided debts may amount to a violation of state and federal law.

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Income Share Agreements and TILA’s Ban on Prepayment Penalties

This memo explores how the Truth in Lending Act’s (TILA) consumer protections prohibit a prominent feature of Income Share Agreements (ISAs) known as a "prepayment penalty"—a lending industry practice that forces borrowers to pay an extra sum if they want to pay off a debt early.

Advocates Warn That ISA Provider Stride Funding’s Lending Model is Potentially Harming Students of Color and Violating Fair Lending Law

This report is the result of an investigation that reveals potentially harmful business practices and possible fair lending risks by Stride Funding, an education finance firm that originates and markets Income Share Agreements (ISAs).

SBPC Investigation Finds Coding Bootcamps Offering ISAs May Be Unlawfully Depriving Students of the Ability to Protect Themselves from Fraud

In a memo, the SPBC highlights how ISA companies are unlawfully depriving students of the ability to protect themselves from fraud by leaving out of their ISA contracts language required under the Federal Trade Commission’s (FTC) “Holder Rule.”

Education Department’s Decades-Old Debt Trap: How the Mismanagement of Income Driven Repayment Locked Millions in Debt

This issue brief highlights newly public data obtained by NCLC from the Department of Education showing that only 32 borrowers have ever qualified for debt cancellation through the federal government’s IDR program, even as approximately 2 million borrowers remain trapped in decades-old debts.

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